Right Honourable Speaker, on the authority of His Excellency, President Nana Addo Dankwa Akufo-Addo, I beg to move that Honourable Members of this august House approve the Mid-Year Review of the Budget Statement and Economic Policy of the Government of Ghana and a Supplementary Estimate for the 2020 Financial Year, I present today, 23rd July 2020.
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The Ministry of Finance exists to ensure macro-economic
stability for promotion of sustainable economic growth
and development of GhanaWelcome to the
Ministry of Finance -
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Ken Ofori-Atta Reiterates Call for a New World Economic Order
Ghana’s Finance Minister, Ken Ofori-Atta has called for a new global
economic order to salvage the world from the ravages being wreck
on the economies of developing countries and the world at large. -
Government distributes Food Items to Needy Individuals and Households
Government through the Ministries of Finance and Gender, Children and Social Protection,
is embarking on a food distribution drive to ensure that needy people in areas under the
restriction of movement directive by H. E. the President, live in comfort. -
Ghana and African Development Bank Signing Ceremony
TThe Ministry of Finance has signed a loan agreement of USD 81.76m
with the African Development Bank (AfDB) for the execution of the
Eastern Corridor Road Development Programme -
Government and World Bank Group sign Financial Agreement for Four Projects
The Government of Ghana represented by the Minister for Finance, Ken Ofori-Atta
has signed financial agreements for four projects amounting to UD 569.39 million
with the International Development Agency of the World Bank Group, represented
by the Country Director, Mr. Pierre Frank Laporte.
News Update
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2020 Mid-Year Review of the Budget Statement and Economy Policy
- Jul 23 2020
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Government’s Issuance Calendar for June to August, 2020
- Jun 05 2020
The Calendar is developed based on the Net Domestic Financing provided in the 2020 Budget, the domestic maturities, the 2020 Annual Borrowing & Recovery Plan (ABRP) and the Medium Term Debt Management Strategy (MTDS) for 2020-2023. The Calendar shows the securities that are intended to be issued in respect of Government’s Public Sector Borrowing Requirements for the period June to August, 2020. -
2018 State Ownership Report
- Jun 03 2020
This Report helps to shed light on and deepen our understanding of the factors behind the performance of state-owned enterprises (SOEs), other state entities (OSEs), and joint venture companies (JVCs). Not only would the insights gained strengthen partnerships between the state and the private sector, but it will also inform on-going interventions and shape key sector decisions relating to the management of the State’s interests in SOEs, OSEs and JVCs. -
Bank of Ghana Asset Purchase Programme as part of Covid-19 Relief Bond Programme
- May 30 2020
The unprecedented COVID-19 pandemic is posing significant challenges to the fiscal operations of Government and more generally on the implementation of the 2020 Budget through shortfalls in revenues, additional emergency spending, and tight financing conditions. -
Re: Commission steps up Fight against Money Laundering and Terrorist Financing
- May 21 2020
Ghana regrets 7th May, 2020 publication by the European Commission (EC) proposing to the European Union Parliament to add Ghana to its list of high risk third countries with strategic deficiencies in their Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) regimes on 1st October, 2020. -
Government Launches new Policies to speed up Financial Inclusion and Digital Payments to Transform the Economy
- May 18 2020
The Ministry of Finance has launched three policy initiatives designed to deepen financial inclusion and accelerate the shift to digital payments. As part of the launch, the Ministry presented the government’s vision of building a highly digitized payment system that accelerates economic development and drives inclusive growth. -
Re-Government Shared Different Macroeconomic Data with Ghanaians and IMF
- May 10 2020
Our attention has been drawn to a publication by factcheck-ghana.com of the Media Foundation for West Africa suggesting that Government has shared different macroeconomic data with Ghanaians and the International Monetary Fund (IMF). We wish to state that this assertion is false and misleading -
Minister Commends the Invaluable Role of FBOs and other Institutions in Kumasi during Lockdown
- Apr 29 2020
Hon Ken Ofori-Atta, Minister for Finance has commended the leadership of Faith Based Organizations (FBOs) in the Ashanti Region and Ghana at large, for the efficiency with which they distributed food items to the poor and vulnerable during the lockdown. -
Ken Ofori-Atta Reiterates Call for a New World Economic Order
- Apr 20 2020
Ghana’s Finance Minister, Ken Ofori-Atta has called for a new global economic order to salvage the world from the ravages being wreck on the economies of developing countries and the world at large. -
Ken Ofori-Atta writes: "What does an African Finance Minister do now?"
- Apr 17 2020
It’s 5am and I stir. My stomach feels cramped. I have slept no more than four hours. My mind races. The problems cascade through. I hear the birds and do my meditation. My wife Angie and I are in the middle of an Easter study on the Book of Daniel, and I can’t help but think of the writing on the wall -
Government Distributes Food Items to Needy Individuals and Households affected by Lockdown through Faith-Based Organisations
- Apr 07 2020
Government through the Ministries of Finance and Gender, Children and Social Protection, is embarking on a food distribution drive to ensure that needy people in areas under the restriction of movement directive by H. E. the President, live in comfort. -
Government’s Issuance Calendar for April to June, 2020
- Apr 01 2020
As part of Government’s effort to improve market transparency in the issuance of Government securities, we forward the attached issuance calendar for publication. The Calendar is developed based on the Net Domestic Financing in the 2020 Budget, the domestic maturities and the MTDS for 2020-2023. -
Statement to Parliament on Economic Impact of the COVID-19 Pandemic on the Economy of Ghana
- Mar 30 2020
Right Hon. Speaker and Honourable Members of Parliament, I appear before you today to provide an update to you and the people of Ghana on the economic impact of the Coronavirus Disease 2019 (in short, COVID-19) pandemic on the economy of Ghana and measures the government is taking to mitigate the impact. -
General Notice
- Mar 19 2020
In the wake of the COVID-19 pandemic and as part of measures to ensure the safety of all our stakeholders, you are kindly directed to e-mail your correspondence to the address below for attention. correspondence@mofep.gov.gh -
Ghana Stands to Gain Significantly from Partnership with ATI
- Feb 27 2020
The Minister for Finance, Hon Ken Ofori-Atta has stated that the Country stood to benefit greatly from the emergence of the African Trade Insurance Agency (ATI) Into the Ghanaian Market. -
Ghana and African Development Bank Signing Ceremony
- Feb 27 2020
The Ministry of Finance has signed a loan agreement of USD 81.76m with the African Development Bank (AfDB) for the execution of the Eastern Corridor Road Development Programme Phase 1 for the construction of the road sections stretching from Dufor-Adidome- Asikuma Junction (39.2km) and Asutuare- Aveyime (23.9km) -
Let’s Make 2020 a Year of True Transformation
- Feb 27 2020
Minister for Finance, Ken Ofori-Atta has entreated staff of the Ministry of Finance to build a work culture that fostered confidence and competence round the clock to enable the Ministry achieve the true transformation the country desired. -
Full Guaranteed Payment of all Validated Depositor Funds of Resolved Microfinance, Microcredit, Savings & Loans, and Finance House Companies
- Feb 24 2020
The Ministry of Finance has released GH¢ 5 billion to the Receiver of the defunct Savings and Loans and Microfinance Companies, as well as the Official Liquidator of the Micro Credit companies through Consolidated Bank Ghana (CBG), in a combination of cash and bonds to fully settle all validated claims due depositors of failed Specialised Deposit-Taking Institutions (SDIs). -
Government Completes Payments of all BDCS Legacy Debts
- Feb 19 2020
Accra, Wednesday 19th February, 2020. Reference is made to a press release by the Chamber of Bulk Oil Distributors (CBOD) on the 10th February, 2020 announcing the final settlement in full of all legacy debts due the BDCs and Banks from the period July 2011 – June 2015 plus interest up until 31st March, 2018. -
2021 - 2024 Budget Preparation Calendar
- Feb 13 2020
The 2021-2024 Budget Preparation Calendar which outlines the programmes required for effective budget development, is being forwarded for your information. -
February 2020 2-Year Treasury Bond Issuance Announcement (Rollover)
- Feb 10 2020
Book-build opens 9:00AM ,Wednesday, 12, February 2020.Revised Pricing Guidance (released as necessary during the Book-build).Revised and Final Pricing Guidance (released as necessary during the Book-build).Books are expected to close around 2:30PM on Thursday -
International Capital Markets Reaffirm Confidence in Ghana, as Bond Issuance Results in order book 5 times Required Amount
- Feb 05 2020
On Tuesday, Ghana became the first ever country on the African continent to issue a 41-year bond, as the West African country successfully raised US$3 billion in the international debt capital markets. -
2020 Budget Implementation Instructions
- Feb 03 2020
Following the passage of the Appropriation Act, 2019, (Act 1008) by Parliament, the Ministry has issued this Budget Implementation Instructions in accordance with the Public Financial Management Act, 2016 (Act 921), to guide all Ministers (Principal Account holders) and Chief Directors (Principal spending officers) in the implementation of the 2020 Budget. -
Moody's Changes Ghana's Outlook from Stable to Positive, Affirms B3 Rating
- Jan 27 2020
Reference is made to a publication by Moody’s from their New York Office, on 24th January, 2020 that the Rating Agency had affirmed Ghana's long-term issuer and senior unsecured bond ratings at B3 and changed the outlook from stable to POSITIVE. -
Government and World Bank Group sign Financial Agreement for Four Projects
- Jan 21 2020
The Government of Ghana represented by the Minister for Finance, Ken Ofori-Atta has signed financial agreements for four projects amounting to UD 569.39 million with the International Development Agency of the World Bank Group, represented by the Country Director, Mr. Pierre Frank Laporte. -
Government’s Determination to take Ghana out of the aid Dependency Syndrome on Course
- Jan 15 2020
A Deputy Minister for Finance, Hon. Charles Adu Boahen has given a firm indication that Government’s desire to take Ghana out of the aid dependency syndrome was on course. -
Minister for Finance announces the Establishment of African Sankofa Savings Account
- Jan 04 2020
Minister for Finance today announced the establishment of the “African Sankofa Savings Account”, a diasporan investment and savings fund to provide investment opportunities for Diaspora Community worldwide. -
Government’s Issuance Calendar for January to March, 2020
- Jan 02 2020
As part of Government’s effort to improve market transparency in the issuance of Government securities, we forward the attached issuance calendar for publication. The Calendar is developed based on the Net Domestic Financing in the 2020 Budget. -
National Housing and Mortgage Fund (NHMF) Survey
- Dec 30 2019
The growing Ghanaian population has continued to widen the housing deficit which is estimated at 2 million housing units. The Government of Ghana has intervened in the housing situation in the country to provide affordable housing especially for public sector workers. -
Let’s Remember Lessons Learned and make Room for Improvement in 2020 - Minister Urges Staff
- Dec 23 2019
Ken Ofori-Atta has urged staff of the Ministry of Finance and its agencies to use the Christmas celebration to reflect on the performances of their duties as they looked forward to 2020
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