Tag: Ken Ofori Atta
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Ghana to accept bids for US$3 billion Eurobond today
Ghana will today, Tuesday, February 4, accept bids from investors for its US$3 billion Eurobond after the successful completion of a week-long roadshow in Europe and the United States. A government delegation led by the Finance Minister, Ken Ofori-Atta, brought their roadshow, which had seen them interact with investors from Europe and North America, to…
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Ghana’s Public debt stock rises to GHC 214.9 billion
Ghana’s total public debt reached 214.9 billion cedis as at November 2019. According to the Bank of Ghana’s latest data on economic figures, this represents 62.1 percent of the total value of all goods and services produced in the country for the period. Out of the amount, the external debt component reached 111.9 billion cedis,…
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Gov’t embarks on Eurobond roadshow to raise US$3 billion
The government’s plan of borrowing up to US$3 billion from the Eurobond market to support the 2020 budget will commence this week as a delegation led by the Finance Minister, embarks on a series of meetings with investors. Finance Minister Ken Ofori-Atta who got the approval of Parliament to raise up to US$3billion on the…
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6 things to know about the FX Developments Committee
On Thursday, January 16, 2020, a Deputy Finance Minister, Charles Adu Boahen, inaugurated a 38-member committee christened the Foreign Exchange Developments Committee with the task of reviewing the existing forex regime, and come up with workable solutions to foster a stable exchange regime. The Committee, which held its first meeting right after it was inaugurated,…
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Ofori-Atta to raise over US$3 billion in diasporan bond
The Ministry of Finance is hoping to raise over US$3 billion in a Diasporan bond through the creation of the Diasporan Savings and Investment account. The account which will also be known as the African Sankofa Account will enable people of African descent living outside the continent to lend to the government of Ghana for…
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Pension industry exposed to banks to the tune of GH¢863.63 million
The Finance Ministry has revealed that the pensions industry’s exposure to the banking sector is about GH¢900 million; justifying the need for Parliament to approve a GH¢15.6 billion to protect the financial sector from a possible collapse. The Finance Minister, Ken Ofori-Atta in a memo to Parliament, argued that the financial sector is very interconnected…
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Honest dialogue needed on ‘taxing’ faith-based organizations – Ken Ofori-Atta
The Finance Minister, Ken Ofori-Atta, says it is time to openly have a conversation about whether or not it is appropriate to tax certain activities of churches to generate additional revenue for the country. According to him, the amount of money churches generate cannot be ignored by the state. The proposal to tax some activities…
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#GHBudget: Ofori-Atta seeks Parliament’s approval to spend GH¢86 billion in 2020
Finance Minister Ken Ofori-Atta, is seeking Parliament’s permission to spend nearly GH¢86 billion on various planned programmes and initiatives in 2020. The amount being sought by Mr. Ofori-Atta represents more than 21 percent of what the government is likely to spend for this year. According to the 2020 budget statement, GH¢21.7 billion nearly 25 percent…
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2020 Budget: Ofori-Atta’s audacious mission to secure the bag and deliver the elections
Three years ago, Finance Minister Ken Ofori-Atta delivered the very first budget of the Akufo-Addo administration amidst a sense of optimism that was so high that the government could afford to abolish some taxes. The refrain from the government was to shift the focus of the economy from taxation to production ie pursuing a number…
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2020 Budget: Statement to feature tax policies, expenditure rationalization
The Finance Minister, Ken Ofori-Atta, will today present to Parliament what is considered to be a critical budget of the incumbent government as the country goes into an election next year. One of the major highlights of the budget will be some pronouncements on taxes; as well as efforts to ensure that government’s economic gains…