Tag: Economic Recovery Program
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Debt exchange has contributed to rebound of economy – Ofori-Atta
The Finance Minister, Ken Ofori-Atta, has attributed the rebound of the economy to the launch of the debt exchange programme and the staff-level agreement with the International Monetary Fund on a $3 billion bailout. Addressing the public on the suspension of external debt payments on Monday, December 19, Mr Ofori-Atta said the government is willing…
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Domestic debt exchange programme expiration date extended
The expiration date for the Domestic Debt Exchange Programme has been extended to December 30, 2022, the Ministry of Finance has announced. In a press statement issued last Friday (December 16, 2022), the ministry explained that over the last ten days, it continued the consultation efforts that was initiated with all stakeholders ahead of the launching…
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Dr Sarkodie urges focus on growing GDP to generate more tax revenue
An Economist with the Economics Department of the University of Ghana, Dr Adu Owusu Sarkodie, has advised government to focus attention on growing the nation’s gross domestic product (GDP), if it wants to grow tax revenue. He said that for a middle-income country such as Ghana, the annual tax revenue projection should be about 2.5…
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Financial sector gets GH₵15bn to address liquidity under Debt Exchange Program
The size of Ghana Financial Stability Fund (GFSF) being established by government with the support of development partners is worth GH₵15 billion. Encouraging full participation of financial institutions This is to support and encourage full participation of financial institutions in the voluntary debt exchange programme. GH₵137bn notes and bonds The Fund will provide liquidity to…
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Togbe Afede writes: Our Self-inflicted monumental economic crisis
About six weeks ago I was in New York, and for the first time in almost three decades, I struggled to sell the economic credentials of my country. When we were approaching the runway at Kotoka International Airport, at the end of my return journey, I looked outside from my window seat, and my joy about…
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Rawlings’ divestiture of SOEs, economic reforms were remarkable – Prof. Quartey
Former Head of the Economics Department at the University of Ghana and Professor at the Institute of Statistical, Social and Economic Research (ISSER), Professor Peter Quartey says some economic policies implemented during the Jerry John Rawlings era have been fundamental to the sustained economic growth Ghana is enjoying now. The first President of the 4th…