Friday, February 20

Tag: Ato Forson

Government Pays GH¢10 Billion DDEP Interest, Boosts Investor Confidence
No Comments
Business

Government Pays GH¢10 Billion DDEP Interest, Boosts Investor Confidence

The Government of Ghana has paid GH¢10 billion in interest obligations under the Domestic Debt Exchange Programme (DDEP), signalling continued commitment to fiscal stability and debt restructuring efforts. Announced in Accra on Wednesday, 18 February 2026, the payment represents the sixth coupon settlement under the programme and marks the second full cash payment made without any Payment-In-Kind component. Officials say this reflects improved fiscal strength and growing solvency. The settlement covers coupon obligations on cedi-denominated domestic debt instruments in line with the restructuring memorandum and the government’s broader debt management and fiscal consolidation strategy. Economists note that the timely payment sends a positive signal to both domestic and internation...
Read More
Ghana Announces Cocoa Sector Reforms to Ensure Financial Stability and Fair Farmer Pricing
No Comments
Business

Ghana Announces Cocoa Sector Reforms to Ensure Financial Stability and Fair Farmer Pricing

The Ministry of Finance has announced a series of major reforms aimed at strengthening the cocoa sector, ensuring fair producer prices, and securing long-term sustainability for one of Ghana’s most important export industries. The measures were approved by Cabinet under the government of the Republic of Ghana. Immediate Relief for Farmers As part of the reforms, Cabinet has directed the COCOBOD to immediately settle outstanding payments owed to cocoa farmers. The move is intended to provide financial relief to affected farmers while restoring confidence in the cocoa purchasing system. Planned Legislative Changes Government plans to present a new cocoa sector bill to the Parliament of Ghana. The proposed law will introduce an automatic adjustment mechanism for cocoa producer pri...
Read More
Mahama Administration Settles US$1.47bn Energy Debt, Reinstates World Bank Guarantee Within One Year
No Comments
Business

Mahama Administration Settles US$1.47bn Energy Debt, Reinstates World Bank Guarantee Within One Year

The Government of Ghana, under the leadership of President John Dramani Mahama, has cleared a significant portion of legacy energy sector debt, paying approximately US$1.47 billion in 2025 to stabilise the sector and restore international confidence. Upon assuming office in January 2025, the Mahama Administration inherited an energy sector under severe strain, marked by years of non-payment for gas supplied from the Offshore Cape Three Points (OCTP) field. The situation had resulted in the complete depletion of a US$500 million World Bank Partial Risk Guarantee (PRG), a facility established in 2015 to backstop payments to Sankofa Gas Project partners ENI and Vitol and unlock nearly US$8 billion in private investment. Government sources say the exhaustion of the PRG had undermined Gha...
Read More
Government of Ghana Settles US$709 Million Eurobond Obligation Ahead of Schedule
No Comments
Business

Government of Ghana Settles US$709 Million Eurobond Obligation Ahead of Schedule

The Government of Ghana has successfully settled a US$709 million Eurobond obligation, making the payment on 30 December 2025 ahead of its due date, in a move seen as a major boost to the country’s economic recovery and debt management efforts.According to the Ministry of Finance, the latest payment brings Ghana’s total Eurobond payments for 2025 to US$1.4 billion under the ongoing debt restructuring memorandum. The amount comprises three separate payments of US$349.52 million, US$349.52 million, and US$709 million made to Eurobond holders within the year.The timely settlement, the Ministry noted, reaffirms Ghana’s credibility as a sovereign borrower and demonstrates government’s commitment to restoring investor confidence through transparent, predictable, and disciplined debt-service prac...
Read More
Economic Expert Hails Government Over Positive 2025 Mid-Year Budget Review
No Comments
Business

Economic Expert Hails Government Over Positive 2025 Mid-Year Budget Review

Mr. Anthony Dagadu, an Economic Expert in the Volta Region, has commended the government for what he described as a positive and impactful 2025 Mid-Year Budget Review, highlighting its potential to drive economic growth and development. He said the review was an important step in assessing the government’s fiscal performance and making necessary adjustments to strengthen the economy. In an interview with the Ghana News Agency, Mr. Dagadu stated that public sentiment was largely optimistic, with expectations that the review had addressed key economic challenges and provided a clear direction for the second half of the year. “The review clearly outlined strategies to stimulate economic activity and improve public services. It was communicated in a way that was understandable to ordi...
Read More
Energy sector, a “ticking time bomb” – Finance Minister
No Comments
Business

Energy sector, a “ticking time bomb” – Finance Minister

Dr Cassiel Ato Forson, the Finance Minister, says Ghana’s energy sector is facing a critical financial crisis, described as a “ticking time bomb,” largely due to non-cost reflective tariffs and unsustainable energy subsidies. He highlighted the sector’s dire financial state, noting that the projected cumulative financial shortfalls were expected to exceed nine billion dollars by 2026, even with government’s interventions. Dr Forson said this on the first leg of the two-day National Economic Dialogue ongoing at the Accra International Conference Centre. “The energy sector in Ghana has become a ticking time bomb. More than two per cent of GDP every year. Every year, the profits of the energy sector will probably fall back on the legal side. For citizens, we require radical measures,...
Read More
Business to see relief as Ato Forson promises VAT reforms
No Comments
Business

Business to see relief as Ato Forson promises VAT reforms

The Minister of Finance designate, Dr Cassiel Ato Baah Forson, has promised to carry out significant reforms in the implementation of the Value Added Tax (VAT) . He said this will give huge relief to businesses that are suffocating under the presented chaotic and distorted implementation of the VAT. Dr Ato Forson was speaking during his appearance at the Appointments Committee of Parliament on Monday. He said concerns raised by the business community so far include unpredictable tax policy  and administration such as distorted VAT regime.  “To this end the government will undertake a comprehensive review of Ghana’s VAT regime as casptured in the manifesto of the National Democratic Congress (NDC), Dr Ato Forson said. He said this is intended to ...
Read More
Government will abolish E-Levy in its first budget- Dr Ato Forson
No Comments
News, Technology

Government will abolish E-Levy in its first budget- Dr Ato Forson

The Minister of Finance designate, Dr Cassiel Ato Baah Forson, has promised to abolish the e-levy in the first budget of the government. Speaking during his appearance at the Appointments Committee of Parliament on Monday, he said “my position on the e-levy is not new. It has not changed and I still stand by my position to abolish it”. Dr Ato Forson said his position on the e-levy does not mean that he does not appreciate the need for revenue. He added “however, the e-levy is neither a direct, an indirect or excise tax”. Dr Ato Forson said e-levy retards progress towards financial inclusion and a cash-lite economy. “When approved, I will abolish the e-elevy in my first budget”, he said. He said his topmost priorities include working very hard to lower prices, stabilise the...
Read More
President Mahama Names Dr. Ato Forson as finance minister designate  
No Comments
Business

President Mahama Names Dr. Ato Forson as finance minister designate  

President John Dramani Mahama has named Dr. Cassiel Ato Baah Forson as Minister for Finance designate.   Dr. Ato Forson has previously served as the Deputy Minister for Finance during the first term 2012-2017 of the President.    His appointment was announced alongside two other ministerial nominations for Energy and Attorney General.  Dr. Forson brings a wealth of experience to the role, having previously served as Deputy Minister for Finance during President Mahama’s first term.   He previously served as the Minority Leader in the eighth parliament and as the ranking member of the Finance Committee, where he spearheaded the minority’s financial policy positions.    Dr. Forson boasts a distinguished career marked by academic exce...
Read More
//omg10.com/4/3711026