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Press Release

GOVERNMENT PAYROLL CLEANED

The Minister of Finance, Ken Ofori-Atta, has directed that names of 26,589 public sector workers be removed from the payroll commencing April 2017, since those affected have not been registered on the new SSNIT biometric system, despite several directives to do so.
 
The Minister, in his presentation of the 2017 budget, announced Government’s commitment to clean the payroll. To that effect, the Minister requested that the Controller and Accountant General on the 10th of February 2017, inform all public servants on the Government of Ghana mechanized payroll system who had not registered on the new SSNIT biometric system to do so by the end of February 2017.
 

ASPERSIONS ON THE US$2.25 BILLION OF DOMESTIC CEDI DENOMINATED BONDS ISSUED BY THE GOVERNMENT OF GHANA

April 20, 2017  The attention of the Ministry of Finance has been drawn to a statement issued by the Minority in Parliament which seeks to cast negative aspersions on the 9.7 billion cedis (USD2.25 BILLION) domestic bond issue of the Government of Ghana.
 
2.         The Ministry considers the statement as unfortunate especially as it was fronted by Hon Cassiel Ato Forson, a former Deputy Finance Minister, who knows very well the workings and processes for the issue of domestic bonds and as such, should not be making such baseless allegations. As such, the Ministry has no choice but to surmise that these allegations are maliciously designed to malign and negate the positive news and rave reviews this landmark transaction has garnered, both locally and internationally.

HON. KEN OFORI-ATTA LEADS GOVERNMENT DELEGATION TO THE 2017 IMF/WORLD BANK SPRING MEETINGS IN WASHINGTON DC, USA

April 19, 2017    The Chairman of the Economic Management Team, Vice President Dr. Mahamudu Bawumia, and the Finance Minister Ken Ofori-Atta are leading a Government delegation to the IMF/World Bank Spring Meetings to be held in Washington DC, from April 18 – 28, 2017.
 
2.         The delegation is made up of officials from the Bank of Ghana, led by the Governor, Dr. Ernest Kwamina Yedu Addison; the Chairman of the Finance Committee in Parliament, Dr. Mark Assibey Yeboah (MP); and officials from the Finance Ministry.

GHANA AND CZECH REPUBLIC SIGN DOUBLE TAXATION AGREEMENT

Accra, April 11, 2017 - Ghana and the Czech Republic have signed a Double Taxation Agreement. The Minister for Finance, Ken Ofori Atta, and the Czech Ambassador to Ghana, Margita Fuschova, respectively signed on behalf of both countries. 

 

2.       This agreement was signed after the two countries concluded negotiations for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income.

GOG RAISES OVER USD2 BILLION INCLUDING A DEBUT 15 YEAR DOMESTIC BOND

Accra, Monday 3rd April, 2017 –The Ministry of Finance successfully issued 15 and 7 year bonds with the same coupon of 19.75%, raising a total amount of USD1.13 billion. In addition, the Ministry of Finance raised the cedi equivalent of USD1.12 billion in 5 and 10 year bonds via a tap-in arrangement. These activities raised a total of USD2.25 billion and resulted in the lengthening of the maturity profile of the instruments available on the domestic market.

Stakeholder Workshop on Beneficiary Ownership Disclosure Held

The Deputy Minister designate for the Ministry of Finance, Hon. Abena Osei Asare (MP) has reiterated governments commitment to fight corruption. She noted that opaque company structures are being used to launder significant sums of money, that could be used to improve the lives of people which such ill-gotten gains were meant to serve. She made the remarks on behalf of the Minister of Finance, Ken Ofori Atta, at a “Stakeholder workshop to establish a framework for the implementation of Beneficial Ownership Disclosure Provisions in the amended Companies Act” in Accra.

Dr. Nashiru Issahaku Resigns as Governor of the Bank of Ghana

Accra, Thursday March 30, 2017 - Dr. Abdul-Nashiru Issahaku has announced his resignation as the Governor of Bank of Ghana for personal reasons with effect from April 1, 2017. Dr. Abdul-Nashiru Issahaku joined the Bank of Ghana as 2nd Deputy Governor in July 2013 and became Governor on April 1, 2016. The Government of Ghana takes this opportunity to thank him for his service to the country.

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