Press Release

The newly reconstituted Economic Policy and Coordinating Committee (EPCC) has held its maiden meeting on Wednesday, January 16, 2019. The EPCC is a high-level technical committee mandated to provide strategic policy direction for effective coordination and implementation of Government’s economic programme and budget.

Government has worked with an Advisor and selected Pension Funds to structure a Special Purpose Vehicle (SPV): the Ghana Amalgamated Trust (GAT) to support solvent and well-run indigenous banks, which were otherwise having difficulties meeting the new minimum capital requirement deadline, to meet their obligations.

The Sustainable Development Goals and targets cannot thrive on public finance alone as their only source of funding. Strategic collaboration between public and private actors in leveraging financing is needed to achieve the ambitious targets. SDG investments are a new generation of impact and social investment strategies designed to attract private investments towards the SDGs while ensuring financial returns for investors.

The Registrar General’s Departments (RGD) attention has been drawn to publication in Thursday 29th November ,2018 edition of the Daily Graphic of page 16 and 20 stating that TIN no longer prerequisite for business registration.

A Mission of the International Monetary Fund (IMF) visited Accra during October 20-26, 2016, to assist the Ghanaian authorities with the implementation of the Enhanced General Data Dissemination System (e-GDDS), which was endorsed by the IMF Executive Board in May 2015.

We refer to a publication in the Ghanaian Times on Monday 8th October, 2018 with regard to the use of petroleum revenues, specifically the Annual Budget Funding Amount (ABFA). In a statement attributed to the Coordinator of the Public Interest and Accountability Committee (PIAC) the Ghanaian Times asserts that the Ministry of Finance could not account for GH¢403.7 million of ABFA funds.

Standard and Poor’s (S&P) at the end of their recent assessment of the country, has upgraded Ghana to B with a stable outlook from B- with a negative outlook, thus, Ghana has achieved a credit upgrade for the first time in almost a decade.

The Government has taken note of the measures announced by the Bank of Ghana on 1^st August 2018, to consolidate five banks as part of efforts to restore confidence and trust in our banking system, and to protect depositors and jobs.

The Parliament of the Republic of Ghana has passed the Luxury Vehicle Levy to impose an annual levy on vehicles with high engine capacities. The implementation of this Law takes effect from Wednesday, 1^st August, 2018.

The Minister of Finance, Ken Ofori-Atta has been elected as Chair of the Governing Board of the African Capacity Building Foundation (ACBF). This comes a day after the Minister presented the 2018 Mid-Year Budget.