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Press Release

SCHEDULE FOR BIOMETRIC REGISTRATION EXERCISE MOE / GES NEWLY TRAINED TEACHERS 22ND MARCH – 3RD APRIL, 2017

March 20, 2017  The Ministry of Finance and the Controller and Accountant General’s Department wishes to announce that biometric registration of newly employed and approved government workers, particularly newly trained teachers, will take place from March 22 – 3rd April 2017.
 
2.         The exercise will take place in all ten regional capitals per the schedule below.

Hon. Ken Ofori-Atta to Deliver the 2017 Budget Statement and Economic Policy On Thursday, 2nd March, 2017

The Minister for Finance, Hon. Ken Ofori-Atta, will on behalf of His Excellency the President, present the 2017 Budget Statement and Economic Policy to Parliament on Thursday, 2nd March, 2017 at 11am.
 
The 2017 Budget is expected to focus on stimulating growth and job creation through private sector development. It will aim at getting Ghana working again.
 
The Budget will include measures to restore fiscal discipline and good economic governance, transparent and accountable use of public resources in accordance with the new Public Financial management law and to provide a credible basis for economic policy clarity going forward.

IMF Staff Concludes Visit to Ghana

A team from the International Monetary Fund (IMF), led by Joël Toujas-Bernaté, visited Accra from February 6-10, 2017 to take stock of the 2016 economic developments and the outlook for 2017, engage in a dialogue about the new government’s economic plans, and discuss prospects for program engagement with the IMF.[1]
 
Mr. Toujas-Bernaté released the following statement at the end of the visit:
 
 “Ghana’s economy continues to face challenges. While the estimated economic growth of 3.6% in 2016 exceeded our target of 3.3%, the  decline in inflation has been slower than expected. The current account deficit narrowed to 6 ½ percent of GDP, contributing to a small buildup of foreign exchange reserves.

Press Release from the Ministry of Finance

Thursday, 2nd February, 2017; The Ministry of Finance and the Economic Management Team has begun the process of preparing the 2017 budget and Economic Policy of Government. 
 
2.       Our focus is to audit the fiscal accounts and provide a credible basis for economic policy going forward. Our commitment is to restore fiscal policy credibility and transparency as well as policy clarity.
 
3.       As part of the process, the Honourable Minister has held bilateral meetings with the various Ministries, Departments and Agencies to review their policies and ensure consistency with the Government’s medium term policy strategy.

Ken Ofori-Atta assumes office as Ghana’s Minister of Finance

Accra, January 30, 2017. Mr. Ken Ofori-Atta, assumed office as Ghana’s Finance Minister after having been sworn-in on January 27, 2017, by his Excellency the President. He brings to the Ministry over 30 years’ experience in Ghanaian and international financial sector.
 
2.         Hon. Ofori-Atta and twelve other Minister designates were approved by Parliament on Friday, January 27, after going through a successful vetting process by the Appointments Committee of Parliament.
 
3.         The Hon Minister’s immediate priority is to protect the public purse, stabilize Ghana’s macro economy, spearhead anti-corruption, increase revenue and introduce policy initiatives to grow the economy for the private sector to thrive and create jobs...

GHANA ECONOMIC MANAGEMENT STRENGTHENING TECHNICAL ASSISTANCE PROJECT (GEMS-TA) LAUNCHED

The Ghana Economic Management Strengthening Technical Assistance (GEMS-TA) project, which is aimed at strengthening Ghana’s institutional capacity for revenue and expenditure management has been launched in Accra.
 
The 3-year project, which is being supported by the World Bank has four components which are: Strengthening Ghana Revenue Authority’s Business Intelligence Systems; Strengthening Ministry of Finance’s Debt Management; Strengthening the National Development Planning Commission (NDPC); and Improving the Governance of State-Owned Enterprises (SOEs).

Ghana Issues its Maiden Domestic US Dollar 2-Year Bond

Monday 17th October, 2016. Government on October 13, 2016 successfully issued a US Dollar denominated bond on the domestic bond market. The 2-year bond, which was highly subscribed yielded an amount of US$94.64 million at a coupon rate of 6 percent, consistent with the initial price range of between 5.5 percent and 6.5 percent.
 
2.       On settlement, this 2-year bond becomes one of our country’s lowest yield bonds aside the 2017s which are currently trading at about 5.45 percent and maturing in less than a year.
 
3.       The offer, which was open to resident investors only, attracted a total of 26 bids with a face value of US$99.64 million.

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