Sunday, October 19

Tag: Finance Minister

Government Increases Cocoa Producer Price to GHS3,625 Per Bag for 2025/26 Season
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Government Increases Cocoa Producer Price to GHS3,625 Per Bag for 2025/26 Season

The Government of Ghana has announced an upward adjustment in the producer price of cocoa for the 2025/2026 crop season, offering relief to farmers across the country. Following consultations with stakeholders, the Producer Price Review Committee (PPRC), chaired by the Minister for Finance, Dr. Cassiel Ato Forson, has increased the price from the previously announced GHS3,228.75 per bag to GHS3,625 per bag, equivalent to GHS58,000 per tonne. This new price represents an increment of about GHS400 per bag, translating into a 12.27 percent rise compared to the earlier figure announced on August 4, 2025. The new producer price will take effect from Friday, October 3, 2025. Dr. Forson assured that while margins, fees, and rates to other stakeholders remain unchanged, government remains...
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Government Settles GH¢9.7 Billion Coupon Under Domestic Debt Exchange Programme
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Government Settles GH¢9.7 Billion Coupon Under Domestic Debt Exchange Programme

The Ministry of Finance has confirmed the successful settlement of a coupon payment worth GH¢9.7 billion under the Domestic Debt Exchange Programme (DDEP). According to the Ministry, the total payment made on Tuesday, August 19, 2025, amounted to GH¢9,698,815,220.17, pushing cumulative disbursements under the DDEP for this year alone to approximately GH¢19.4 billion. Officials say the move highlights government’s determination to honour commitments made under the Memorandum of Understanding governing the DDEP, a policy designed to restructure the country’s domestic debt. “This payment demonstrates government’s unwavering commitment to meeting its obligations under the programme,” the Ministry stated, adding that the action is expected to boost investor confidence and reinforce fis...
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Finance Ministry Invites Public Contributions to 2026–2029 National Budget
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Finance Ministry Invites Public Contributions to 2026–2029 National Budget

The Ministry of Finance (MoF) has called on the general public, business associations, professional bodies, financial institutions, civil society organizations, and faith-based groups to submit proposals for consideration in the preparation of the 2026–2029 Budget Statement and Economic Policy. In a statement issued in Accra, the Ministry expressed appreciation for the valuable contributions stakeholders have made to past national budgets and reiterated its commitment to ensuring broad citizen participation in the budget process. The Ministry announced that preparations for the 2026–2029 budget are already underway, ahead of its presentation to Parliament by November 15, 2025. The call for input, it said, aligns with government’s goal of developing inclusive policies that respond to ...
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Economic Expert Hails Government Over Positive 2025 Mid-Year Budget Review
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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...
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Ghana Pays US$349.52 Million Eurobond Debt, Completes 2025 Obligations
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Ghana Pays US$349.52 Million Eurobond Debt, Completes 2025 Obligations

The Government of Ghana has successfully completed its scheduled Eurobond debt service obligations for the year 2025, with a final payment of US$349.52 million made today through the Bank of Ghana. This was announced in an official statement from the Ministry of Finance, confirming that a total of US$349,523,674.56 was paid on Thursday, July 3, 2025, as part of Ghana’s ongoing commitment to its post-restructuring debt obligations. The latest payment brings Ghana’s cumulative Eurobond debt service since the country’s debt restructuring in October 2024 to US$1.174 billion, broken down as follows: October 2024: US$475.60 million – Initial payment following the restructuring agreement. January 2025: US$349.52 million. July 2025: US$349.52 million. With these payments, the g...
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Put differences aside in finding solutions to economic challenges – Finance Minister
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Put differences aside in finding solutions to economic challenges – Finance Minister

Ghanaians have been urged to put their differences aside in finding solutions to the country's current economic challenges. Dr Cassiel Ato Forson, the Minister of Finance, who made the call, said there was the need to forge ahead, as a people, and put together a policy to guide efforts in tackling the economic woes. Speaking during the National Economic Dialogue on Monday in Accra to help address the challenges, Dr Forson said since no one person was a repository of knowledge, it was incumbent on all Ghanaians to support to change the situation. He said the dialogue, similar to the one held 10 years ago at Senchi in the Eastern Region, was to reflect on the economic challenges, address them and plan for the future. It would use dialogue, among other things, to reset the economy...
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Full length of economic crisis still unravelling – Finance Minister
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Full length of economic crisis still unravelling – Finance Minister

Dr Cassiel Ato Forson, the Minister of Finance, says the Government is yet to have a full understanding of the economic crisis as the situation keeps unraveling with time. The depth of the crisis, he said, would require significant sacrifices from citizens to “stem the bleeding” and put the economy back on track. “Fellow countrymen and women, the economic crisis isn't over. Indeed, the full length of our current crisis is still unravelling by the day,” he said during a presentation on: “The true state of the Ghanaian Economy” at the 2025 National Economic Dialogue on Monday. The theme for the two-day event is: “Resetting Ghana: Building the Economy We Want Together”. He observed that over the decade, there had been very limited progress in structural transformation of the econo...
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Finance Minister raises concerns over tax exemptions and extractive sector under-capitalization
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Finance Minister raises concerns over tax exemptions and extractive sector under-capitalization

Finance minister Dr. Cassiel Ato Forson has expressed serious concerns about the negative impact of tax exemptions on Ghana's revenue mobilisation and the under-capitalisation of the extractive sector. He highlighted the significant fiscal challenges facing the nation, stressing that tax exemptions on Value Added Tax (VAT), Personal Income Tax (PIT), and import duties are estimated to result in a "staggering" 3.9 percent loss of GDP. The Minister made the statement during a presentation on the true state of Ghana's economy at the two-day National Economic Dialogue in Accra on Monday.   He emphasised that those figures did not include corporate income tax exemptions, which further exacerbated the revenue shortfall. "While these exemptions often offer temporary relief, they ...
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Energy sector, a “ticking time bomb” – Finance Minister
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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,...
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President Mahama Names Dr. Ato Forson as finance minister designate  
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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...
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