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Government’s Revised Issuance Calendar for August To December 2016

We make reference to our publication, informing you of Government’s aggregate borrowing amount for the third quarter of 2016 of GHȼ16,830.00 million out of which forecast maturities was GHȼ14,910.61 million and net issuance of GHȼ1,919.39 million.  
 
As you may be aware, the Government revised its fiscal projections for 2016 in the mid-year review. Accordingly, this necessitated the revision of the issuance calendar to ensure consistency with Government cash flow forecast and market conditions.
 
Based on the above, a new issuance calendar for August to December 2016 was developed in line with the MTDS that specifies the aggregate amounts to be raised by instruments in the period. The Table 1 below provides a summary of the revised gross borrowing requirement for the period August to December, 2016...

REVIEW OF THE BUDGET AND ECONOMIC POLICY of GOVERNMENT and SUPPLEMENTARY ESTIMATES for the 2016 FINANCIAL YEAR presented to PARLIAMENT on MONDAY, 25TH JULY, 2016 by the HON. MINISTER FOR FINANCE SETH E. TERKPER

Mr. Speaker, I beg to move that this Honourable House approves the sum of GH¢1,888,203,387 as Supplementary Estimates for the 2016 Financial Year.

SPEECH - REVIEW OF THE BUDGET AND ECONOMIC POLICY of GOVERNMENT and SUPPLEMENTARY ESTIMATES for the 2016 FINANCIAL YEAR presented to PARLIAMENT on MONDAY, 25TH JULY, 2016 by the HON. MINISTER FOR FINANCE SETH E. TERKPER

Mr. Speaker, I beg to move that this Honourable House approves the sum of one billion, eight hundred and eighty-eight million, two hundred and three thousand, and three hundred and eighty-seven Ghana Cedis (GH¢1,888,203,387) as Supplementary Estimates for the 2016 Financial Year.

 

2. Mr. Speaker, in doing so, I would proceed by first presenting to this august House, a review of the performance of the economy of Ghana for the 2015 and 2016 Financial Year.

GCNET Pay Government Final Dividend for 2015

Hon. Helen Mona Quartey, Deputy Minister of Finance has challenged the GCNET to ensure that the Tax Revenue Integrated Processing System modules are all deployed and operationalized in the Large and Medium Tax Payers offices by the end of the year. This, she explained, will not only give a boost to the tax modernization efforts but bring about efficiency in tax collection to enhance tax performance.

“We are therefore hopeful that all parties including yourselves are on course for Ghana achieving its Single Window status. This will go a long way to enhance trade facilitation even more and especially increase revenue”.

ISSUANCE CALENDAR FOR JUNE AND THIRD QUARTER, 2016

The issuance calendar for the first half of 2016 was developed in line with the MTDS that specifies the aggregate amounts to be raised by instrument in the period.
 

Note that for the month of June 2016, Government plans to issue an amount of GHȼ3,970.00 million to rollover a forecast maturities of GH¢3,816.76 million, with the remaining amount of GH¢153.24 million being a fresh issuance to meet Government’s financing requirements.

Ghana, Switzerland Sign Project Grant Agreements

An official signing ceremony took place today at the Ministry of Finance between Ghana and Switzerland on a project grant agreement totaling US$15.3 million.
 
The Swiss Ambassador to Ghana, H.E. Gerhard Brugger signed on behalf of the SWISS Government and the Deputy Minister for Finance, Hon. Mona Quartey signed on behalf of Ghana.
 
The grants are the Domestic Revenue Mobilization Project (US$6.5 million); Remittance Grant Facility (US$2.6 million) and the Ghana Urban Mobility and Accessibility Project (US$6 million).

PUBLIC NOTICE ON 3-YEAR BOND ISSUANCE

Please be informed that in line with the Government’s published issuance calendar for May 2016, a 3-Year Fixed Rate Bond will be issued on Thursday, 26th May 2016 for an amount of GH¢500.00 million. This is to rollover the maturing 3-Year Bond, which falls due on 30th May 2016.  
 
I. Members of the general public may apply to any Primary Dealer for purchases of the said securities. 
 
II. The 3-Year Fixed Rate Bond is available to both Resident and Non-Resident Investors. Bids must be electronically delivered to the Central Securities Depository Auction Module not later than 1.30pm on THURSDAY 26TH MAY, 2016
 

ISSUANCE CALENDAR FOR MAY 2016

The issuance calendar for the first half of 2016 was developed in line with the MTDS that specifies the aggregate amounts to be raised by instrument in the period.
 
Note that for the month of May 2016, Government plans to issue an amount of GHC5,520.00 million to rollover a forecast maturities of GHC5,229.95 million, with the remaining amount of GHC290.05 million being a fresh issuance to meet Government's financing requirements.

Issuance Calendar for April, 2016

The issuance calendar for the first half of 2016 was developed in line with the MTDS that specifies the aggregate amounts to be raised by instrument in the period. Note that for the month of April 2016, Government plans to issue an amount of GHS 4,92O.OO million to rollover the forecasted maturities of GHS 4,021.66 million, with the remaining amount of GHS 898.34 million being a fresh issuance to meet Government's financing requirements.

Ministry of Finance Presents Vehicle To PIAC

The Ministry of Finance (MOF) has presented a vehicle to the Public Interest and Accountability Committee (PIAC) at a short ceremony held yesterday. The presentation of the 4x4 Toyota Land Cruiser was done by Hon. Mona Quartey, Deputy Minister of Finance and received on behalf of PIAC by its Chairman, Prof. Paul Kingsley Buah-Bassuah.

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