The Government of Ghana, UNDP and the International Aid Transparency Initiative (IATI) are jointly hosting a Regional Workshop on data usage from 19th - 20th March 2015 at the M-Plaza Hotel in Accra.
The workshop brings together a range of actors and stakeholders in development cooperation to discuss ways to exploit the wealth of available data to meet financial and budgetary planning needs at national and sub-national levels, and to challenge those providing information to do so with greater emphasis on the quality needs of the end user.
The Ministry of Finance in collaboration with the National Development Planning Commission (NDPC), will begin Policy Hearings with Ministries, Departments and Agencies from Monday 16th March, 2015. The Policy Hearings are part of the 2016 Budget Statement and Economic Policy preparation process.
The purpose of the policy hearing is to discuss MDA’s policy objectives as outlined in the Ghana Shared Growth and Development Agenda (GSGDA II), to avoid policy duplications and identify common areas in a sector for collaborative policy interventions and funding. This is the first time the policy hearings are being organised separately from the Technical Hearings, ...
The Ministry of Finance has taken note of a Statement by the Institute of Economic Affairs (IEA) on Ghana’s Public Debt situation (Daily Graphic, 16 February 2015, page 71), along with two publications on debt management and other elements of the nation’s fiscal policy (IEA Monographs No. 37 and 39). The Ministry would like to respond to the following sweeping assertions and omissions in the publications.
A team from the International Monetary Fund (IMF), led by Joel Toujas-Bernate, visited Accra during February 19-26, 2015 to discuss the authorities' economic and financial program and possible financial support by the IMF. The mission reached staff-level agreement with the authorities, subject to approval by IMF Management and the Executive Board, on an economic program that could be supported by a three-year Extended Credit Facility (ECF) arrangement. Proposed access could total SDR 664 million (around US$ 940 million), or 180 percent of Ghana's IMF quota. Consideration by the Executive Board is
tentatively scheduled in early April 2015."
The Ministry of Finance has taken note of a Statement by the Institute of Economic Affairs (IEA) and two publications by Dr. Charles Amo-Yartey (the IMF’s Resident Representative in Sierra Leone and Liberia) on Ghana’s Public Debt situation. While we take note of some positive aspects of these publications, the Ministry would also like to issue the following clarifications in response to several general and sweeping assertions in them.
The attention of the Ministry of Finance has been drawn to a recent study by the Overseas Development Institute (ODI) on “Sub-Saharan Africa International Sovereign Bonds” which assesses the risks associated with the use of international sovereign debt by sub-Saharan African countries. The report, however, contains factual inaccuracies that are being carried by both international and local media (e.g. “Strong Dollar Threatens Debt Crisis in Sub-Saharan Africa”, The Guardian, 28 January 2015).
Update on Global Growth - It is important to note that, the global economy is still struggling to gain momentum as many high-income countries continue to contend with the aftermath of the global financial crisis and emerging economies are less dynamic now than in the past.