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2015 - 2017 Medium-Term Debt Management Strategy

The MTDS is a useful public debt management tool that recognizes the cost and risk trade-offs in setting sustainable borrowing limits and ensuring that debt is serviced under a wide range of shocks without risk of default. Ghana's 2015 MTDS has been carefully drafted by taking into consideration the medium term macroeconomic fiscal framework, which among others covers prudent revenue projections and planned expenditures.

PRESS BRIEFING BY THE HON. MINISTER OF FINANCE

3rd September, 2015 - Introduction About a month ago, I presented a mid-year review of the 2015 Budget and Supplementary estimates for 2015. Since then, there have been new developments both domestically and externally which has necessitated this briefing. The Mid-Year Review was also based on end-May 2015 performance of the economy. This media brief updates the performance to June, 2015.

ISSUANCE CALENDAR FOR GOVERNMENT OF GHANA SECURITIES: JULY - DECEMBER, 2015

The Ministry of Finance working together with the Bank of Ghana, announces for the information of Primary Dealers, Banks, Brokers, the Genera! Public and all prospective investors in the domestic securities market, the Issuance Calendar for Government of Ghana Securities for the period July - December 2015.

GHANA SIGNS THREE FINANCIAL AGREEMENTS WITH THE WORLD BANK

Ghana has signed three financial agreements with the World Bank totaling US$220 million, as well as a Policy Based Guarantee of US$400 million to cover securities issuance of up to US$1 billion by Government.
 
The Agreement involves Budget Support of US$150 million and  an additional financing of US$25 million for the Transport Sector Project, in respect of the 52.2km rehabilitation of the Ayamfuri-Asawinso Road; 15 km dual carriageways of the Accra East Corridor; and rehabilitation of selected Feeder Roads in the Central and Volta Regions.

GHANA AND GERMANY SIGN TWO FINANCIAL COOPERATION AGREEMENTS

Ghana and Germany have signed two Financial Cooperation Agreements totaling €40.31 million, to support the implementation of the 2015 national budget, as well as provide long term finance for agricultural activities through the Outgrower Value Chain Schemes.
 
The Minister for Finance, Hon. Seth Terkper signed on behalf of Ghana whilst the Country Director of KfW Development Bank Ghana, Ms. Brite Schorlemmer, signed on behalf of the German Government. 

Ghana Revenue Authority inaugurates special taskforce

Accra, Aug. 3, 2015 GNA - The Ghana Revenue Authority (GRA) has inaugurated a 40-member special revenue mobilisation taskforce, to enforce compliance with tax laws and to get defaulting and potential taxpayers to honour their tax obligations.
 
The taskforce would be checking for the issuance of VAT/NHIL invoices by businesses, the filing of VAT/NHIL, Pay as You Earn, returns by the due dates, and the payment of any outstanding tax liabilities (debts) owed the GRA, among other things.

GCB pays GH¢18.1 million dividend to government

Ghana Commercial Bank Limited on Monday presented a cheque for GH¢ 18,114,756, as dividend to government at a ceremony in Accra.

Mr Cassiel Ato Forson, Deputy Minister of Finance, who received the cheque commended the bank for its level of growth over the years, saying "Government is happy with the performance of GCB".

Mid-Year Review of the Budget Statement and Economic Policy and supplementary estimates of the Government of Ghana for the 2015 Financial Year

Right Honourable Speaker and distinguished members of Parliament, on the authority of His Excellency, President John Dramani Mahama, and in accordance with Article 179 (8) of the 1992 Constitution, I stand before this august House, to present a Mid-Year Review and revised macroeconomic targets as well as seek approval for Supplementary Estimates for the 2015 fiscal year. These revised estimates have been necessitated by domestic and longstanding global developments.

Ghana’s Economy to get Major Boost

WASHINGTON, July 1, 2015— The World Bank Group’s Board of Executive Directors today approved US$150 million budget support for Ghana. The credit from the International Development Association (IDA)* supports the First Macroeconomic Stability for Competitiveness and Growth Development Policy Financing (DPF), the first of three development policy financing operations aimed at helping the Government of Ghana stabilize its economy and shore up fiscal control by implementing financial policies and processes that are transparent and predictable.

Performance Report on the Budget Statement and Economic Policy of the Republic of Ghana for the 2014 financial year

June 30, 2015 On behalf of the Government of Ghana, I present to you the maiden edition of Annual Budget Performance Report for the year ending 31st December, 2014.
The 2014 Budget Performance Report provides a comprehensive assessment of Government’s Performance and the result of public spending. The assessment focuses on what has been achieved against what was planned and what difference this has made in terms of improvements in public service delivery…

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