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Press Release

Response to Minority’s Press Release on the Utilisation of the 2014 Eurobond Proceeds of US$1.0 Billion

On 18th September, 2014, Ghana issued its third Sovereign Bond in an amount of US$1 billion at coupon rate of 8.125 percent. After discount and estimated issue expenses a total amount of US$988,706,548.00 was credited to Government account at the Bank of Ghana on 19th September, 2014.

Ghana joins Better Than Cash Alliance for greater financial transparency

The Government of Ghana joined the Better Than Cash Alliance to enhance fiscal transparency and promote financial inclusion for all its citizens. By becoming an Alliance member, the Government commits to transition government programmes from cash to digital payments.

Government of Ghana Sovereign Bond Listed on Ghana Stock Exchange

Government of Ghana on Thursday, 16th October, 2014 officially listed its third Eurobond on the Ghana Stock Exchange. The Bond was issued on Thursday, 11th September 2014.

Hon. Seth Terkper Leads Government Delegation to the 2014 IMF/World Bank Annual Meeting In Washington DC, USA

Hon. Seth Terkper, Minister of Finance is leading a Government delegation to the IMF/World Bank Annual Meetings to be held in Washington, from October 10-12, 2014.
 
The delegation is made up of the Governor of the Bank of Ghana, the Chairman of the Finance Committee of Parliament and Officials from the Ministry of Finance and the Bank of Ghana.

Review of the Producer Price of Cocoa for the 2014/2015 Cocoa Season

The Producer Price Review Committee (PPRC) on cocoa met today under my Chairmanship and agreed on a new Producer Price of cocoa for the 2014/2015 season which opens on Friday, 3rd October 2014.
 
The PPRC has reviewed upwards the producer price of cocoa from GH¢3,392.00 per tonne to GH¢5,520.00 per tonne for the 2014/15 cocoa season. As compared to the previous season, this amount represents an increase in price of GH¢2,128.00 per tonne or 62.74%. This figure translates into GH¢345 per bag of 64 kg gross which represents about 75 percent of the net FOB.

IMF Staff Concludes Visit to Ghana

At the request of the Ghanaian authorities, an International Monetary Fund (IMF) mission led by Mr. Joel Toujas-Bemate initiated discussions on a possible program of economic reforms that could be supported by the IMF. The mission met with President Mahama; Vice-President Kwesi Amissah-Arthur; Dr. Kwesi Botchwey, Chairman of the National Development Planning Commission; Finance Minister Seth Terkper; Minister of Gender, Children and Social Protection Ms. Nana Oye Lithur; Bank of Ghana Governor Kofi Wampah; other senior officials, and representatives of the private sector, the donorcommunity and civil society.

Ghana Prices Third Eurobond

New York Sept. 11, 2014 - Ghana has priced and will issue its third Eurobond of US$1.0 billion at a coupon rate of 8.125. The bond was oversubscribed with orders reaching up to US$3 billion. Like the two previous issues, this year’s bond attracted investors from Europe, the United States, Middle East and Asia. The bond is a soft amortizing bond, amortising in years 2024, 2025 and 2026 with principal repayment in three instalments of US$333 million in years 2024 and 2025, and US$334 million in 2026.

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