Tag: MoF
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Ofori-Atta lauds establishment of independent secretariat to achieve climate prosperity
The Minister for Finance, Ken Ofori-Atta has disclosed that, the decision to establish an Independent Secretariat for Climate Vulnerable Forum and the V20 Group of Finance Ministers was a giant step towards achieving climate prosperity objectives. The Minister, who is the Chair of the V20 – the Finance Ministers of the Climate Vulnerable Forum, made…
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Treasury bill auction records 13.21% oversubscription; interest rate increases to 31.97 %
The government surpassed its auction target last week as the market continued to experience sufficient liquidity. Treasury bill sales recorded 13.21 percent oversubscription of its target of GHS 2,601 billion. According to figures from the Bank of Ghana, investors presented GHS 2.94 billion as against government’s target of GHS 2.60 billion A chunk of the…
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Govt misses T-bills target by 12.91 percent as interest rates surge
The Government of Ghana’s Treasury Bill (T-bill) offer across 91-day to 364-day bills target of GHS 3.96 billion fell short of about 12.91 percent at last week’s auction. The offer attracted total bids estimated at GHS3.45 billion, with the treasury securing approximately 87 percent of the bids valued at GHS3.96 billion. According to the results…
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T-bills auction: Government records 15.3% oversubscription
The Government of Ghana’s T-bill offer across 91-day to 364-day bills was oversubscribed by approximately 15.3% relative to the target size of GHS 3.065 million at last week’s auction. The offer attracted total bids estimated at GHS3.54 billion, with the Treasury accepting 99.21% of the bids valued at GHS3.51 billion. According to figures from the…
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AfDB projects inflation to remain above 44.7 percent until 2024
The African Development Bank (AfDB) is projecting that Ghana’s inflation rate will anchor at 44.7 percent for year ending 2023. According to the AfDB, interest rate is also to remain above 25%. This projection is coming on the back of a three-month continuous increase in inflation to 43.1% in July 2023. This projection is contained…
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COCOBOD extends deadline for debt exchange to August 18
The Ghana Cocoa Board (COCOBOD) has once again revised the deadline for its debt exchange programme to Friday August 18 from the initial announcement of August 3, 2023. The new announcement date has also been revised to Monday, August 21, 2023 while the settlement date now shifted to August 25. On July 14, the Ghana…
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Chamber of Corporate Trustees signals readiness to participate in new DDEP
The Chamber of Corporate Trustees has indicated its preparedness to participate in the alternative Domestic Debt Exchange Programme (DDEP) being offered by the Government of Ghana (GOG). This comes on the back of an earlier announcement by the Ministry of Finance for the restructuring of ¢31 billion pension funds in the second phase of its…
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Govt revises macroeconomic targets downwards: Real GDP growth adjusted to 1.5%
Finance Minister, Ken Ofori-Atta, during the presentation of the 2023 mid-year budget review today, July 31, announced significant revisions to the country’s macroeconomic and fiscal frameworks. The revision aims to align with the targets of the IMF-supported PC-PEG due to recent developments and global economic conditions. Notable revisions include a decrease in overall Real GDP…
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IBES committee inaugurated to proffer innovative policies for national development
The National Steering Committee of the Integrated Business Establishment Survey (IBES) has been encouraged to ensure that its 2023 report gives innovative backing to businesses across the country. This, according to the Ministry of Finance, will help shape relevant policies to stimulate the profiling of the country’s Gross Domestic Product (GDP) and other critical economic…
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Ken Ofori – Atta encourages African leaders to share in vision of Afreximbank
Ghana’s Finance Minister, Ken Ofori Atta has charged African leaders to share in the vision of the Pan- African bank to give deepened credence to the bank. He indicated that there is the need for Afreximbank to strategically position its self to meet the dynamic needs of the continent. According to him, although the bank…