Ken Ofori-Atta - Minister Patrick Nomo - Chief Director Sampson Fianko - Ag. Director of Budget Azu Sam-Aziakor - Director, General Administration MoF Main Building
January  2017
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.  


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