Tag: Ministry of Finance
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GHS13.6bn spent so far on financial sector clean-up – Finance Minister
Finance Minister, Ken Ofori-Atta, says government has so far spent GHS13.6 billion in sanitizing the financial sector as at 2020 first quarter. He made this known on Thursday July 23, when he delivered the Mid-year budget review statement in Parliament. “As at the end of first quarter 2020, a total amount of GH¢13.6 billion (3.5…
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Gov’t requests GHS11.8bn supplementary budget amid COVID-19 threats
The Minister of Finance, Ken Ofori-Atta, has tabled a request from government to Parliament for a supplementary budge of 11. 8 billion Ghana cedis to support government’s expenditure for the rest of the year. The request is to assist government implement various initiatives to strengthen various sectors of the economy due to the revenue shortfalls…
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Finance Ministry staff asked to work from home over COVID-19 fears
Workers of the Ministry of Finance have been asked to work from home temporarily. This follows an ongoing COVID-19 testing exercise for all staff of the Ministry. An internal memo to staff, signed by the Chief Director of the Ministry, Patrick Numo, stated that the test results will be made available to all staff once…
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EU’s blacklisting of Ghana over money laundering breaches flawed – Finance Ministry
The Ministry of Finance has described the decision of the European Commission to blacklist Ghana over money laundering breaches as unfortunate. According to the Finance Ministry, the methodology used by the European Commission was flawed, as it failed to communicate with Ghana concerning shortcomings that needed to be improved. The European Commission on 7th May…
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Parliamentary approval needed to reverse 50% reduction in benchmark value – MP
A member of the Constitutional, Legal and Parliamentary Affairs and Judiciary Committee of Parliament, Rockson-Nelson E.K. Dafeamekpor, has asked the Ministry of Finance to seek parliamentary approval before directing the Ghana Revenue Authority, GRA, to reverse the 50% benchmark value reduction. He says the move will be an illegality if it is implemented, as it…
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We did not present different macroeconomic data to IMF – Ministry of Finance
The Ministry of Finance has described as ‘false and misleading’ the publication by fact-checkghana.com of the Media Foundation for West Africa, which suggests that government shared different macroeconomic data with Ghanaians and with the International Monetary Fund (IMF). According to the Ministry, publishing such wrong claims about the economy is not helpful as there may…
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Agric Minister to meet BoG, Finance Ministry on financing module to support millers
The Minister of Food and Agriculture is to meet with officials of the Bank of Ghana and the Ministry of Finance on a proposed financing module to boost the operations of millers of various grains in the country. It follows concerns that millers are unable to buy all or most produce such as rice, sorghum…
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Full list of members on committee to ‘investigate’ cedi depreciation
The Finance Ministry last Friday inaugurated a committee to look into the causes of the depreciation of the cedi and propose solutions to the problem. The establishment of the committee, named the FX Developments Committee, is a fulfillment of a promise made by the ministry last year to constitute a bi-partisan committee to look into…
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Finance Ministry insists telcos must backdate CST implementation
The Ghana Chamber of Telecommunications has disclosed that it is in discussions with the Ghana Revenue Authority (GRA) and the Finance Ministry to maintain 1st October as the date for implementation of the Communication Service Tax. This follows calls from the GRA for the chamber to calculate the implementation of the tax from the 4th…
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‘We’ll picket at Finance Ministry if increases in energy levies are not reversed’–COPEC
The Chamber of Petroleum Consumers Ghana (COPEC) has indicated that it will engage the Finance Minister to reverse a decision to increase some components in the petroleum price buildup. The group, however warned that it will picket at the Finance Ministry if all attempts aimed at getting the government to overturn the decision fails. The Finance…