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Press Release

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.

Clarification on Stories on Ghana and the IMF

The Government of Ghana has taken note of the recent stories in the international and local media regarding its decision to open negotiations with the International Monetary Fund for assistance. While we appreciate the continuing interest of the media in Ghana's affairs, we wish to correct a few basic errors of fact in these stories.

Signing of the 11th EDF National Indicative Programme

The EU and Ghana have signed the 11th European Development Fund (EDF) National Indicative Programme (NIP) in the sum of €323 million spanning the period of 2014 to 2020. Ghana is among the 15 African, Caribbean and Pacific (ACP) member states that signed the NIP.

Reminder: Withholding of Taxes

The Ministry of Finance wishes to remind the general public that all importers must use their Tax Identification Number (TIN) when clearing goods from the port and pay their withholding taxes if they are not exempted.

Release of Funds for the Judicial Service

The Ministry of Finance has noted with concern a statement from the Ghana Bar Association, published in various media that the Ministry had not released subvention to the Judicial Service for about a year now leading to the suspension of services in some areas.

SIC Life Insurance Company Presents Dividend To Government

The SIC Life Company Limited has presented a cheque of GH¢2.05 million to Government, a major shareholder of the company. This represents Government’s dividend for the 2013 accounts.
 
Receiving the cheque, Hon. Cassiel Ato Forson, Deputy Minister of Finance commended the Board, Management and the staff of SIC Life for an impressive growth in the past year, and lauded their consistency in the payment of dividend.
 

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