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
President Mahama appoints Second Deputy Governor of the Bank of Ghana
President John Dramani Mahama has in accordance with Section 17 of the Bank of Ghana Act, 2002 (Act 612) as amended, appointed Mrs. Matilda Asante-Asiedu as the Second Deputy Governor of the Bank of Ghana.
This was revealed in a statement signed by Minister for Government Communications, Felix Kwakye-Ofosu.
Mrs. Asante-Asiedu is a Chartered Banker and seasoned corporate leader who has served as Group Head, Retail Banking at Access Bank Ghana PLC.
Mrs Asante-Asiedu holds an MBA in Marketing from GIMPA Business School (2021), an MA inJournalism Studies from Cardiff University (2005), and diplomas in Journalism (Ghana Institute of Journalism, 1997) and Politics and Public Affairs Reporting (International Institute of Journalism,Berlin, 2000).
A Chartered Executive Banker (CIB-Ghana, 2024).
She has undertaken Executive Programmes at Said Business School at Oxford University (2023), Wharton School (2015) and Marquette University’s Les Aspin Centre (2003), among others.
News
Prez Mahama is committed to open-up Afram Plains once and for all – Kwame Agbodza
The government is set to construct a 3.6km bridge over the River Afram in the Eastern Region, along with approximately 100km of road network.
This initiative, part of President Mahama’s “Big Push” infrastructure plan, aims to boost agricultural productivity, stimulate economic growth, and reduce poverty.
Some of the roads being considered included Mpraeso – Obomeng – Nkawkaw, Abooso – Mpaem, Mpaem – Kwahu – Adawso and Feyiase – Kwahu Tafo. The rest are, Ekye Amanfrom – Takoratwene, Takoratwene – Dome, Takoratwene – Donkorkrom and Donkorkrom – New Kyeiase.
Earlier today, the Minister for Roads and Highways, Mr.Kwame Agbodza, led a team of engineers to assess the proposed location of the bridge and some critical roads.
Speaking to the media at Donkorkrom after the assessment tour, Mr. Agbodza assured the people that President Mahama is “committed to opening up the Afram Plains once and for all.”
“The bridge when completed will connect Eastern, Ashanti and OTI regions in a very strategic way. It will open up the place for big time agriculture and investment in agro-processing,” he emphasized.
The project is expected enhance economic development, foster regional integration, generate income through agriculture and other sectors.
