ministry of finance Archives - Page 2 of 2

08 Feb

DDEP: Government Commends Bondholders Who Have Tendered Their Bonds

wontumionlineBusinessbondholders, Domestic Debt Exchange, Ken Ofori Atta, ministry of finance

The Government of Ghana has commended all bondholders who have so far tendered their bonds. In a statement signed by the Finance Minister, Ken Ofori-Atta, the government, however, expressed concern about the technical challenges some bondholders face as they tried to complete the online tender process. As a result, the government said it was providing bondholders with a window to complete processes for tendering their bonds, in response to the terms of Exchange as amended pursuant to the 2nd Amended and Restated Exchange Memorandum. This window ends on Friday February 10, 2023 at 4:00 pm (GMT). The timetable of the…

08 Feb

DDEP: Government Grants 3-Day Administrative Window For Bondholders To Complete Processes

wontumionlineBusinessKen Ofori Atta, ministry of finance

Government has announced an administrative window for bondholders to complete processes for tendering their bonds. A statement issued by the Ministry of Finance and signed by the Sector Minister, Ken Ofori-Atta, said the window ends at 4pm on Friday February 10, 2023. According to the statement, the extension of the window is as a result of technical challenges experienced by some bondholders as they tried to complete the online tender process. It is believed that a sudden rush by bondholders to sign up close to the deadline placed a strain on the IT infrastructure. The statement explained that the timetable…

26 Jan

We’ll Address Issues Raised In COVID-19 Auditor General’s Report –Finance Ministry

wontumionlineBusinessCOVID-19, Ghana, ministry of finance

The Ministry of Finance has assured that it will address all issues raised in the report on the audit of the government’s Covid-19 expenditure by the Auditor-General. The report revealed some infractions in government’s expenditure for Covid-19 from March 2020 to June 2022. Some of the corrupt practices that were uncovered include; paying a total of $607,419.02 out of $4,049,460.12 for the purchase of 26 ambulances that were never delivered, paying an unapproved amount of ¢151,500 by the Information Ministry to its own staff as Covid-19 insurance, and paying for $80 million worth of vaccines by the government that was…

16 Jan

Tap Dr Assibey Yeboah To Assist Finance Ministry When Reshuffling- Paul Opoku To Gov’t

wontumionlineFeatured, News, TrendingDr Assibey Yeboah, ministry of finance, Ministry of Trade and Industry, Movement In The Morning, Paul Opoku

First vice chairman of Dome Kwabenya constituency, and member of the communication team for the New Patriotic Party, Paul Opoku, has called on Government to consider former MP for New Dwabeng, Dr Assibey Yeboah to assist the finance ministry. Speaking in an interview with Kwaku Dawuro, on Movement In The Morning, on Movement TV/Wontumi radio, Mr Opoku was of the view that President Akuffo Addo, should consider Dr Assibey as someone who can assist in the finance ministry as he is inclined in managing finances . According to him ''As far as I'm concerned, former MP Mr Assibey Yeboah, is…

11 Jan

Refusing Debt Exchange Programme Will Bar Bondholders From Benefiting – Finance Ministry Restates Position

wontumionlineBusinessDebt exchange programme, ministry of finance

The Ministry of Finance has restated that eligible bondholders who refuse to participate in government’s debt exchange programme will not benefit from the new arrangement outlined by government in case there is default in payment. Government, is seeking an International Monetary Fund Programme that requires a debt restructuring before a deal could be reached with the Bretton Wood institution. Bondholders have until January 17, 2023 to accept the new arrangement which include some suspension of interest payments. “For those not participating in the domestic debt exchange, they will continue to hold the non-tendered eligible bonds – the “old” bonds. However,…

22 Dec

Databank Shuts Offices, Staff To Work Remotely Due To Attacks And Threats

wontumionlineBusinessDatabank, Databank Research, Financial Stability Fund, ministry of finance

Investment and fund management firm Databank has announced the closure of its offices effective Thursday, December 22, and to work remotely following attacks and threats on its staff. A statement issued Wednesday by the company said it has not been spared the liquidity challenges that have beset the fund management industry owing to the ‘macro-economic crisis’ facing the country. The situation has negatively impacted its ability to honour withdrawal requests as expected, however, while some clients have cooperated with the company, “there are several clients who have felt the need to abuse our staff physically and verbally, and also threaten…

20 Dec

External Debt Repayment Suspension: We Must Be Careful Not To Lose Recent Cedi Gains – Prof. Peprah

wontumionlineBusinessExternal debt suspension, ministry of finance, Professor Williams Peprah

Associate Professor of Finance at Andrews University, Professor Williams Peprah, is warning of the erosion of recent gains by the cedi if the government does not tread cautiously on negotiations of new terms with creditors of external debt. Government today, December 19, 2022, announced the suspension of Eurobonds and other external debt payments as part of its debt restructuring programme. This suspension, it said in a statement from the Ministry of Finance, will not include the payments of multilateral debt, new debts (whether multilateral or otherwise) contracted after December 19, 2022 or debts related to certain short term trade facilities.…

13 Oct

Head Of Local Government Debunks Claims of Clearing Off Staffs

wontumionlineFeatured, News, TrendingIng. Dr. Nana Ato Arthur, local government service, ministry of finance

Head of the Local Government Service, Ing. Dr. Nana Ato Arthur, has debunked claims of clearing off staffs as reported by some media outlets. Disproving the claim on Movement In The Morning Show with Kwaku Dawuro Dr. Ato Arthur said that ‘’We are not clearing off staff members. This is what happened- we told the regional councils to strategize in such as way that the communities and regions with huge number of administrative officers to be deployed to other areas to ensure even distribution of human resources, because I realized the number of administrative staff members in some of the…