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2019 Annual Borrowing and Recovery Plan

2019 Annual Borrowing and Recovery Plan

The Ministry of Finance is committed to ensuring transparency, accountability and predictability of Government’s borrowing operations.

Consistent with this commitment, we prepared and published the 2019 Medium Term Debt Strategy (MTDS), during the 2018 fiscal year. It was the first time the Ministry published the strategy ahead of the period of implementation.

We are deepening this commitment further by publishing the 2019 Annual Borrowing and Recovery Plan(ABRP) for the first time in Ghana’s history.

The plan consists of the financing requirement of the 2019 budget,the strategy for financing under the MTDS and the ceiling for non-concessional borrowing based on the latest Debt Sustainability Analysis (DSA).

We do believe that the recent passage of Fiscal Responsibility law, as well as the newly constituted Fiscal Council and Financial Stability Council,will contribute to Ghana’s drive towards ‘Ghana Beyond Aid’.

This maiden Annual Borrowing and Recovery Plan,the first in the series and in fulfilment of Section 60 of the PFM law,is one of the major initiatives to ensure responsible borrowing and transparency to the markets.

The Preparation of the plan benefited significantly from the contribution of the management of the Ministry,especially,the Hon. Deputy Minister responsible for Finance.The Chief Director of the Ministry,Director and Staff of newly created Treasury and Debt Division were instrumental in preparing the document and engaging major stakeholders on the contents of the plan.The valuable contributions of the Controller and Account-General’s Department,Bank of Ghana and Technical Assistance from the IMF are duly recognized.

We do hope that the contents would be of significant to our cherished investor community and the general public.