September 2017
Re: Minority Accuses Mahama of Illegally withdrawing US$177m from Petroleum Fund

The Ministry of Finance has noted with concern allegations by the New Patriotic Party (NPP) at a press conference today that government had illegally withdrawn US$177m from the Petroleum fund, basically repeating what ACEP accused government of last week which we responded to adequately.For the benefit of all stakeholders and Ghanaians at large, the Ministry wish to reiterate that government has not used the US$176.49 million, which represents the excess over the cap on the GSF as at end-March 2014, to close its financing gap. (June 09, 2014)

Re: Parliament must Investigate Spending from the Ghana Stabilisation Fund

The Ministry of Finance has sighted a release by the Africa Centre for Energy Policy (ACEP), accusing Government of “abuse of the fiscal discipline provided in the Petroleum Revenue Management Act, 2011 (Act 815)”. In the release, ACEP accuses Government of using moneys from the excess over the cap on the Ghana Stabilisation Fund (GSF) to “finance expenditure contrary to the provisions of the Petroleum Revenue Management Act”. (June 02, 2014)


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