News
We have built enough buffers to pay all DDEP obligations – Finance Minister Ato Forson
Finance Minister Dr Cassiel Ato Forson has assured banks that the government has built sufficient financial buffers to meet all Domestic Debt Exchange Programme (DDEP) obligations this year.
Speaking at a high-level meeting with over 22 Managing Directors of banks, he reaffirmed the government’s commitment to fiscal responsibility and restoring confidence in the financial sector.
“We do not intend to default,” Dr. Forson declared.
“All outstanding holdouts have been paid, and we have put in place the necessary buffers to ensure that every single DDEP obligation for this year will be met.”
The Minister explained that these buffers were created through fiscal discipline, strategic investment cuts, and prudent resource allocation.
As part of this approach, the government has reset goods and services expenditure to 2023 levels and is working to achieve a primary surplus of 1.5% to sustain economic stability.
He also announced plans to submit a fiscal responsibility rule to Parliament, which will set a debt ceiling that the Ministry of Finance cannot exceed.
This measure aims to prevent excessive borrowing and reinforce financial discipline.
Beyond ensuring timely DDEP payments, Dr Forson revealed that the government is taking deliberate steps to reduce reliance on the Treasury bill market.
By improving coordination between fiscal and monetary policies, the government aims to stabilize interest rates and ease liquidity pressures on the banking sector.
Source: Myjoyonline.com
News
Interior Minister to brief Parliament on raid at Former BoG Governor’s residence
The Minister for the Interior, Muntaka Mubarak, is set to appear before Parliament to provide details on the search warrant executed at the residence of former Bank of Ghana Governor, Dr. Ernest Addison.
This follows growing public outcry and demands for accountability after a team of heavily armed National Security operatives raided Dr. Addison’s Roman Ridge home on March 19.
The incident, which saw officers disabling CCTV cameras and ransacking the property, has raised concerns about due process and the motives behind the operation.
Lawmakers, particularly from the Minority, have called for full disclosure on the legality and justification for the raid, insisting that Parliament must hold the government accountable for the actions of security agencies.
The Interior Minister is expected to clarify the basis for the search warrant and the allegations leading to the operation.
He is also expected to explain the role of National Security operatives and their conduct during the raid, why Dr. Addison’s residence was targeted, and whether similar actions are planned for other officials.
But Majority Leader, Mahama Ayariga says the Interior Minister will not be available on March 25 adding that a later date will be announced for his appearance.
He also explained that the incident was not a raid but rather a properly executed search warrant carried out in accordance with the law.
“Law enforcement officers lawfully went there to conduct a search and it is perfectly lawful. And so using the word raid is clearly wrong,” he said.
Meanwhile, Dr. Addison and his family remain distressed after the raid, with close associates describing the incident as traumatising and unwarranted.
Source: Myjoyonline.com
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Interior Ministry and WFP Deepen Partnership
Minister of the Interior, Hon. Muntaka Mohammed-Mubarak has strengthened partnership with the World Food Programme (WFP), commending them for their instrumental role tireless efforts in responding to disasters and emergencies in Ghana.
Hon. Muntaka made these remarks during a courtesy call by Madam Aurore Rusiga, the Country Director for the WFP it his office in Accra.
Madam Rusiga emphasised WFP’s continued support to NADMO, which has included providing emergency food assistance, logistics support, and capacity-building programs.
Hon. Muntaka and Madam Rusiga also explored ways to leverage WFP’s expertise and resources to support the Ministry and its agencies.
