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Speaking Notes for Media Briefing By Hon. Minister of Finance On The Public Financial Management ACT, ACT 921

Sept. 20, 2016   The Public Financial Management Act which the Ministry initiated in collaboration with the Attorney General’s Department and Key PFM Stakeholders started in 2015. It was passed into Law by Parliament on 3rd August, 2016 and has been assented to by his Excellency the President. The Law replaces the Financial Administration Act (FAA) of 2003 and its Amendments and the Loans Act of 1970. The Financial Administration Regulation (FAR) was however saved pending the development of new PFM Regulations.
2.     The passage of this Act has become necessary to codify the best practices that have emerged with the implementation of major reforms in budgeting and accounting since 2010 under the GIFMIS project. In addition, continuing fiscal challenges which require some structural changes are addressed in this Act. There are also provisions setting out new policy measures regarding borrowing and debt management among others.

Presentation on the New PFM Act by Acting Chief Director

Sept. 20, 2016   On behalf of the Hon. Minister and Management of the Ministry of Finance, I would like to welcome you to this Media briefing on the Public Financial Management (PFM) Act, Act 921 which was passed into law by Parliament on 3rd August, 2016.  



  1. I wish to  welcome you our distinguished  guests to Ghana. Ghana is a beacon of democracy, an interactive investment destination, and a country with a welcoming and genuinely hospitable environment. As we say in one of our local dialects “Akwaaba”, which means “welcome”.  


  1. It is a distinct honor to be invited to give an open remarks and it is also a privilege for Ghana to be hosting the IMF’s  International Seminar for Tax Policy and Administration for its Topical Trust Fund (TPA-TTF) beneficiary countries. Distinguished Ladies and gentlemen, permit me to  thank the organizers , the Fiscal Affairs Department of the IMF for creating the platform for continuous dialogue in this important area of fiscal management.
Remarks delivered by IMF Deputy Managing Director, Min Zhu at a Media Briefing held at the Mövenpick Hotel, Accra, Ghana - 2nd February, 2016

Good afternoon and thank you for making the time to join this media engagement. I am very pleased to be here today representing the International Monetary Fund (IMF) on this important visit to Ghana. Earlier today, I had a very fruitful meeting with President John Dramani Mahama and have also had meetings with Finance Minister Seth Terkper, Bank of Ghana Deputy Governor Millison K. Narh, some of the leading economists, business leaders and representatives of civil society organisations.

Opening Remarks at the IMF Conference On Enhanced Data Or Better Macroeconomic Policies by Hon. Seth E. Terkper, Minster of Finance, Ghana - 2nd February, 2016

On behalf of the Government and People of the Republic of Ghana, I warmly welcome you to the city of Accra and to the first and largest conference ever in Africa dedicated to the topic of enhancing data for better macroeconomic and financial policies. We are very pleased to be collaborating with the IMF and the United Kingdom Department for International Development (DFID) to discuss this important topic and I am particularly delighted to host this gathering of high-level policy colleagues from across the continent. The broad attendance from senior policymakers from all parts of Africa is testimony to how important the topic of today’s discussion is for all of us: Better data for better policies!

Closing Remarks for Hon Mona Helen Quartey Reverse Mission on Social Protection to the World Bank

Allow me to reiterate what I said in my opening statement that this reverse mission is as nouvelle as it is innovative. Having listened to over thirteen different country examples and also with our experiences as a country, I have made some observations that I want to share...


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