Ofori Atta Archives - Page 2 of 2

29 Nov

Ghana’s Public Debt Increased By GH¢93 Billion Due To Cedi Depreciation – Ofori-Atta

wontumionlineNewsCEDI DEPRECIATION, Finance Minister Ken Ofori-Atta, Ofori Atta

Ken Ofori-Atta, Minister of Finance, stated in the 2023 budget statement that Ghana’s public debt has increased by GH¢93 billion ($6.53 billion at the current rate) due to the depreciation of the Ghanaian cedi alone since the beginning of 2022. According to him, the said amount is twice more than the much-anticipated $3 billion bailout Ghana is seeking from the International Monetary Fund (IMF). In the 2023 budget statement, the cedi has depreciated by 53.8% and 54.2% against the dollar as of October 2022 and November 2022. The depreciation is due to the fact that the country cannot access the International Capital…

25 Nov

Here Are The 13 Measures To Reduce Public Expenditure In 2023

wontumionlineNewsOfori Atta, public expenditure

Government through the Finance Minister, Ken Ofori-Atta has announced some 13 measures to rationalise public expenditure. According to him, these measures are Cabinet directives that are expected to take effect from January 2023. This comes on the back of several calls by some sections of the public for the government to cut down its expenditure to salvage the economy. Currently, Ghana’s economy is under pressure, resulting in higher living costs and galloping inflation. Presenting the 2023 Budget in Parliament on Thursday, Mr Ofori-Atta stated that the measures are “a first step towards expenditure rationalisation.” The 13 measures are listed below:…

24 Nov

Cedi Depreciated By 53.8% In 2022 – Ofori-Atta

wontumionlineBusiness2023 Budget statement, CEDI DEPRECIATION, Ofori Atta

Finance Minister, Ken Ofori-Atta has said Ghana’s currency lost its value against the major trading currencies by 53.8% since the beginning of 2022. This, he said is against the average 7% annual depreciation between 2017-2021. Presenting the 2023 Budget in Parliament on Thursday, the Minister said the uncontrolled demand for imports and foreign exchange accounted for the reduction in value of the cedi. “The demand for foreign exchange to support our unbridled demand for imports undermines and weakens the value of the cedi. This contributed to the depreciation of the Cedi which has lost about 53.8% of its value since…

04 Nov

It Makes No Difference To Sack Ofori Atta But…- Nana Kay To Prez Akufo-Addo

wontumionlineFeatured, NewsNana Kay, Ofori Atta

A communicator of the New Patriotic Party (NPP), Nana Kwadwo Agyei Yeboah popularly known as Nana Kay has said that he doesn't know what change it will make if the President goes ahead to sack the finance minister. However, since the majority of Ghanaians are calling for such a move then it's just right the President does so. According to him, once the United Kingdom has done it, then it's possible to be done", he told Kwaku Dawuro on Movement in the morning show on Wontumi Radio/Movement TV. "Sometimes we say sorry to our wives and children not because we…

29 Sep

NPP Will Not Play Blame Games: The Focus Is To Revamp The Economy- Osafo Marfo

wontumionlineFeatured, News, TrendingFelix Ofori Atta, imf, NDC, NPP, Ofori Atta

A communicator of the New Patriotic Party(NPP), Felix Osafo Marfo, has said the focus of the New Patriotic Party is to revamp the economy and not to play blame games. He said this when he joined Kwaku Dawuro on Movement In The Morning Show on Thursday 29th September, 2022. Speaking he said that "the meat (good financial standing) former President Kufuor left was embezzled by the NDC. When they left government in 2016, there were no global crises or pandemic. Most of the 4.6 million Ghanaians who had saved their monies in the various banks were not allowed to access…