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2017 IMF/World Bank Annual Meetings

The Ghana delegation at the 2017 IMF/World Bank meetings has been engaging with global finance partners to put their money behind the renaissance of the Ghanaian economy. While impressed with the recent recovery efforts many stakeholders are now focusing on the conversation of irreversibilities needed to make the recent gains stick. Senior Minister Yaw Osafo Maafo and Finance Minister Ken Ofori Atta have been providing assurances while taking lessons from best practices from all over the world.
 

Ghana Pitches its Investment Potentials to International Community on the Sides of Ongoing IMF / World Bank Annual Meetings

Finance Minister Ken Ofori Atta is challenging global investors to put their money behind Ghana’s growing economic opportunities.

At a well attended investment pitch on the sidelines of the IMF / World Bank Annual meetings, Minister Ofori Atta reiterated the Akufo-Addo government’s efforts at creating the most business friendly economy in Africa.

Hon. Ken Ofori-Atta Leads Government Delegation to the 2017 IMF/World Bank Annual Meetings in Washington DC, USA

Hon Ken Ofori-Atta, Minister of Finance is leading a Government delegation to the IMF/World Bank Spring Meetings to be held in Washington DC, from October 9 - 15, 2017.
 
2.      The delegation includes the Senior Minister, Governor of the Bank of Ghana, the Chairman of the Finance Committee in Parliament and officials from the Finance Ministry and the Bank of Ghana.
 
3.      Whiles there, the delegation will meet with IMF DMD, Mr. Zhang and the World Bank Vice President for Africa... 

Venture Capital Trust Fund Board Inaugurated

Accra October 9, 2017 – Hon. Abena Osei-Asare (MP), a Deputy Minister of Finance has inaugurated a nine-member Board of the Venture Capital Trust Fund with a call on the Board and the Management to be transparent in their investment decisions.
 
She challenged them, “to align its investment to strategic areas by focusing on investing in at least 100 small and medium enterprises over the medium term and expand the existing SMEs to help maximize economic growth and reduce unemployment.”

Ghana Joins the World Bank to Celebrate 60 Years of Partnership

September 29, 2017, Accra… The World Bank has launched its 60-year celebration of its relationship with Ghana, under the theme, “Transforming Ghana Together”. The celebration coincides with Ghana's 60th independence anniversary.
 
Speaking at the event, the Hon. Minister of Finance, Ken Ofori-Atta, thanked the Bank for its support to Ghana. He indicated that Ghana’s relationship with the World Bank could be traced as far back as, 1957. Through the Bank’s loan assistance, Ghana’s first hydro-power electric dam (Akosombo Dam) was constructed, which he said has transformed the country greatly.

MoF Holds Third Quarter Durbar

Accra, September 27, 2017 - The Minister of Finance, Ken Ofori Atta, has disclosed that a special highlight of the 2018 budget will be the inclusion of SDGs saying, “SDGs will undergird the 2018 budget”.

He disclosed further that the 2018 budget statement and economic policy will focus on agriculture and entrepreneurship. “2018 will be the year of the culture of entrepreneurship, that starter ups would be supported to spur people on to that direction”, he said.

The Minister said these during the Ministry of Finance 3rd Quarter Durbar held in Accra.

Fourth Session of the Joint Commission on Economic, Trade And Technical Cooperation between the Government of the Republic of Ghana and the Government of the People’s Republic of China on September 26, 2017

Accra, Sept 26, 2017 - The Minister of Finance of the Republic of Ghana, Hon. Ken Ofori-Atta, and Hon. Qian Keming, Vice-Minister of Commerce of the People’s Republic of China have signed Minutes of the Fourth Session of the Joint Commission on Economic, Trade and Technical Cooperation between the two countries held in Accra on September 26, 2017.

The Vice Minister’s visit is also a follow-up to that of H.E. Dr. Mahamudu Bawumia’s recent visit to China in June 2017.

PPA Board Inaugurated

Sept. 27, 2017       A nine member Board has been inaugurated to serve on the Public Procurement Authority (PPA) board. The inauguration was held at the Ministry of Finance, Accra.

 

Swearing in the members of the board, the Deputy Minister of Finance, in charge of budget, Hon Abena Osei Asare (MP), urged Board members to exhibit professionalism in the discharge of their duties.

 

Commenting on the Auditors General’s report for 2015, she said it was sad that public procurement processes were characterized with irregularities, which she said must be curbed to save the country from further losses...

Review: Administrative Policy on Tax Exemptions

In the 2017 Budget Statement and Economic Policy, government committed to a comprehensive review and reform of the import duty exemptions regime and tax reliefs, with a view of eliminating abuses and improving efficiency in the application of these incentives.
 
As an interim arrangement, and to facilitate the reform, we instituted an administrative measure that required exemption holders to pay in advance, all applicable import duties and taxes, and apply for refunds with supporting evidence. The administrative measure began on the 1st of April 2017 after Parliament had approved it in the 2017 Budget.

We are on Course – Ken Ofori-Atta

Accra, September 7, 2017 – Mr. Ken Ofori-Atta, Minister for Finance today noted that economic policies being implemented were achieving positive results and called on the CEOs of financial institutions to reciprocate government efforts by improving credit to the private sector to support government stimulus programme to revitalize the sector.

He said they could also support the government by also providing feedback on the performance of the measures introduced to stabilize the economy saying “we believe in partnerships and collective responsibility. We want to receive feedback from you on the measures that we have implemented this year and your expectations for next year in particular”.

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