OFORI ATTA Archives - Wontumi Online

06 Dec

Tourism Sector To Receive GH¢400 Million Boost Next Year – Ofori -Atta

Wontumi2BusinessOFORI ATTA

Government will invest over GH¢400million in revamping the tourism sector next year, Finance Minister, Ken Ofori-Atta has disclosed. The amount, the minister explained, will be used to establish new tourist attraction sites such as museums, rehabilitate and upgrade existing attractions – including the Monkeys Sanctuary at Shai Hills, Mole National Park, Cape Coast and Elmina Castles, among many others across the country. “At a more micro-level, next year, the government, in conjunction with our development partners, will commit over GH¢400million to provide new tourist attractions in addition to renovating existing ones,” the minister announced in his keynote address at the Ghana Tourism…

30 Aug

DDEP: I Told Akufo-Addo, Ofori-Atta That Giving Banks Haircut Just After Cleanup Was Wrong But I Was Ignored – Pianim

Wontumi1BusinessKwame Pianim, OFORI ATTA

A renowned economist, Kwame Pianim, has said he put together a team of financial experts and discussed the impact of the Domestic Deebt Exchange Programme (DDEP) on banks and submitted a memorandum to President Nana Addo Dankwa Akufo-Addo, Vice President Dr Mahamudu Bawumia, and Finance Minister Ken Ofori-Atta but the concerns was ignored. He stated that giving the banks a haircut just after the cleanup exercise in the baking sector was wrong. On Monday, January 23, the Government of Ghana and the GAB reached an agreement on the new terms for the Domestic Debt Exchange programme. The banks had earlier rejected…

31 Jul

Budget review: We’re making progress, we won’t ask for more money – Ofori-Atta

Evans ManassehNewsBudget review: We’re making progress, OFORI ATTA, we won’t ask for more money

The Finance Minister, Ken Ofori-Atta, says the Nana Addo Dankwa Akufo-Addo government will not ask Parliament for any additional money. According to him, this was necessitated by the progress made in non-oil tax revenue collection within the year. The Finance Minister made these remarks when he presented the mid-year budget review in Parliament on July 31. “For the first six months of the year, we continue making progress to exceed our non-oil revenue targets for the year. We have seen improvements in non-oil tax revenue collection despite some noticeable shortfalls in VAT. “However, oil revenues have fallen short of expectations…

31 Jul

2022 was my most difficult year as Finance Minister – Ofori-Atta

Evans ManassehNews2022 was my most difficult year as Finance Minister, OFORI ATTA

The Minister of Finance, Ken Ofori-Atta says 2022 was his worst year as the manager of Ghana’s public purse. Presenting the 2023 mid-year budget review in Parliament on Monday, July 31, Mr. Ofori-Atta indicated that the aftermath of the COVID-19 pandemic posed a great challenge for him and the governing New Patriotic Party forcing the government to run to the International Monetary Fund for respite. “2022 was the most difficult year for me as Ghana’s Finance Minister. On July 1st 2022, we took what was then a very difficult but necessary decision to request support from the IMF to implement…

31 Jul

We’ve stabilised exchange rates, inflation, other fiscal challenges – Ofori-Atta

Evans ManassehNewsfiscal, inflation, OFORI ATTA, We’ve stabilised exchange rates

The Minister of Finance, Ken Ofori-Atta in his 2023 mid-year budget review has indicated that the measures put in place by the government in attempts to mitigate the impacts of COVID-19 and the current economic challenges have resulted in stabilizing fluctuating exchange rates, softened inflation, and brought down interest rates. The Finance Minster in his presentation attributed the achievements to ongoing fiscal adjustments implemented by the government. He indicated that these fiscal adjustments have significantly improved the ailing economy. “Mr. Speaker, the implementation of ongoing fiscal adjustments and sustained investments in our people have contributed immensely to the stabilisation we…

25 Apr

Government Commits To Strict BoG Zero Financing Of Budget – Ofori-Atta

wontumionline.comBusinessOFORI ATTA

The Finance Minister, Ken Ofori-Atta, has pledged the government’s full commitment to strict zero financing of the budget by the Bank of Ghana (BoG). Mr. Ofori-Atta disclosed this on PM Express Business with host George Wiafe in Washington DC USA during the Annual World Bank Spring meetings. The minister stated that government will stick to zero-financing from the central bank to help contain the Ghana’s rising budget deficit. Status of zero financing of budget Mr. Ofori-Atta announced that the Finance Ministry will sign a Memorandum of Understanding on the zero financing with the BoG in the coming weeks. This, he…

15 Apr

No Second Round Of DDEP, It Was A Misunderstanding – Ofori-Atta Assures

wontumionline.comBusinessDDEP, OFORI ATTA

Finance Minister, Ken Ofori-Atta, has explained that there will not be another round of domestic debt restructured. An earlier report had indicated that whiles the minister was making an address at the ongoing IMF/World Bank Spring meetings, he hinted at a possible debt restructuring targeted at pension funds. According to him, the statement he made was misconstrued to mean he said there would be a second round of DDEP. “We are not planning a second round of the domestic debt exchange programme for pension funds. I think it was a misunderstanding,” he is quoted by myjoyonline.com He maintained that the…

25 Jul

Government Formulating Programme To Form Basis Of IMF Negotiation, Ofori-Atta

wontumionline.comBusinessGovernment Formulating Programme To Form Basis Of IMF Negotiation, OFORI ATTA

The government is currently developing a programme that will complement the Ghana COVID-19 Alleviation and Revitalisation of Enterprises Support (Ghana CARES) ‘Obaatanpa’ programme, Finance Minister Ken Ofori-Atta has said. Presenting the 2022 Mid-Year Budget Review in Parliament on Monday (25 July), Ofori-Atta said the programme will be the basis for negotiating a deal with the International Monetary Fund (IMF). “Mr Speaker we are currently developing an enhanced domestic programme to complement the Ghana CARES Obaatanpaa programme to return us to the party of microeconomic stability, debt sustainability, robust growth and a Ghana Beyond Aid “We expect this programme to be the basis of…

27 Mar

‘Akufo-Addo Has Been Strong In Fighting Corruption’ – Ofori-Atta

Jackson Odom KpakpoNewsOFORI ATTA

‘Akufo-Addo Has Been Strong In Fighting Corruption’ – Ofori-Atta Minister of Finance-nominee, Ken Ofori-Atta has defended the credibility of President Nana Akufo-Addo in the fight against corruption in the country. “The President [Nana Akufo-Addo] has been strong in fighting corruption. His instruction has led to increases in our allocations to all governance institutions, and they have testified to that. We have also been firm in protecting the public purse,” he said when he appeared before Parliament’s Appointments Committee on Friday, March 26, 2021. Mr. Ofori-Atta also added that the living conditions of Ghanaians have been made better under the…

12 Feb

Ofori-Atta, Two Other Ministerial Nominees Scheduled For Vetting Today

Jackson Odom KpakpoNewsOFORI ATTA, Two Other Ministerial Nominees Scheduled For Vetting Today

Ofori-Atta, Two Other Ministerial Nominees Scheduled For Vetting Today The Appointments Committee of Parliament will later today continue hearings for the vetting of three more nominees of the President for various ministerial roles. The Finance Minister-nominee, Ken Ofori-Atta, is expected to be the highlight of the vetting today because of the central role of his portfolio. He is the immediate past Finance Minister. In 2017, when he was vetted, Mr. Ofori-Atta spent the most time before the committee with his session running for 4 hours and 15 minutes. Issues such as taxation, revenue generation and the widening of the tax…