The government has secured more than 80 per cent of targeted participation in the Domestic Debt Exchange Programme (DDEP), a source familiar with the process hastold the Daily Graphic. According to the source, the Central Securities Depository was conducting the final reconciliation of the numbers to ensure that there was no double counting. The deadline […]
Tag: Ken Ofori Atta
Schedule Finance Minister to brief Parliament – Speaker directs
The Speaker of Parliament, Alban Sumana Kingsford Bagbin, has directed the Business Committee of Parliament to schedule the Finance Minister, Ken Ofori-Atta, to appear before the House to brief members on affairs of the domestic debt exchange programme (DDEP). He said both sides of the House had agreed that the Finance Minister be scheduled to […]
Bondholders offered administrative window to tender
The government has created an administrative window to enable bondholders to complete the tender process, following what the Finance Ministry described as “technical glitches”. The window will last until Friday, February 10, this year to enable all eligible bondholders who were unable to complete the process to do so. They are to visit the website […]
Government reaches agreement with banks on new terms for debt exchange programme
The Government of Ghana and the Ghana Association of Banks (GAB) have made significant progress on the terms of participation of Banks in the Domestic Debt Exchange Programme (DDEP). The new agreement encompasses final improvements to the terms of the programme. These include; an agreement to pay 5% coupon for 2023 and a single coupon […]
First-ever tax appeals board constituted
The country’s first-ever Independent Tax Appeals Board has been inaugurated, with a call on the members to ensure speedy adjudication, accuracy and fairness in tax dispute resolution and transform the country’s domestic revenue mobilisation efforts. The 11-member board is chaired by Justice Lawrence Mensah, a retired Court of Appeal Judge, with members including the President […]
It will be suicidal to touch T-bills under debt exchange programme – Ofori-Atta
Finance Minister, Ken Ofori-Atta has assured that government will not touch Treasury Bills (T-bills) under the Domestic Debt Exchange Programme. According to him, it will be suicidal for government’s own finances and fundraising programmes in the future to touch T-bills as part of the programme. Mr. Ofori-Atta noted that government has conducted a Debt Sustainability […]
Deadline for individual bondholders in Domestic Debt Exchange Programme: ends today
The deadline for individual bondholders to assent to the governments invitation to the Domestic Debt Exchange Programme(DDEP) ends today. Reports, however, reaching the Daily Graphic indicate that the response has been extremely poor with millions of bondholders refusing to sign on, a development confirmed by some banks. It is not clear what the government’s response […]
1% E-Levy kicks off today – Traders, egents expect positive outcome
he Mobile Money Agents Association Of Ghana (MMAAG) has expressed the hope that the revised rate of the Electronic Levy (E-Levy) of one per cent, which takes off today, will help revive its business, since operations suffered last year when the levy was introduced. It said with money transfer businesses having suffered with the rate […]
Dr Duffuor proposes rescue team to resolve economic challenges
A former Finance Minister, Dr Kwabena Duffuor, has proposed the establishment of a National Economic Rescue Team to help find immediate and lasting solutions to the current economic challenges. He said the depth of the economic crisis and the ongoing attempt to restructure the domestic debt towards macroeconomic stability and recovery of the economy call […]
Your treasury bills are completely safe, no haircut in domestic bonds – Ofori-Atta
Finance Minister Ken Ofori-Atta has assured that treasury bills (T-bills) are exempted from government planned debt exchange programme. He gave the assurance in a statement issued on Sunday, December 4, 2022. According to Mr Ofori-Atta, small investors, individuals and other vulnerable groups who have invested in T-bills are exempted from the debt exchange exercise. “Treasury […]
Govt outlines debt exchange programme: Seeks to reduce high public debt
The government has settled on a softer payment plan with institutions and individuals who have lent money to the country as part of efforts to reduce the burden the public debt stock puts on the economy. The plan, which is in line with the government’s commitment to restore macroeconomic stability in the shortest possible time, […]
NPP MPs agree to support Ken Ofori-Atta for 2023 budget passage after Council of Elders intervention
The New Patriotic Party (NPP) Members of Parliament in the majority caucus, have reneged on their stance and agreed to support the Finance Minister, Ken Ofori-Atta for the 2023 budget passage after an intervention by the leadership and Council of Elders of the NPP on Tuesday night. A statement dated November 22, 2022, jointly signed […]