GH¢60bn loss: We’ve not been reckless – BoG fights back

During the 2023 Mid-Year Budget Review in Parliament on July 31, Finance Minister Ken Ofori-Atta emphasized the significance of the controversial Domestic Debt Restructuring Programme (DDEP). He highlighted that the program has granted the government greater fiscal flexibility and aided in addressing cash and liquidity constraints. The Minister expressed gratitude to all bondholders who participated in the program, which involved three months of negotiations …

The government has revised its 2023 appropriation from ¢227.7 billion, as previously presented and approved in November 2022, to ¢206.0 billion. This adjustment is in accordance with Regulations 24 sub-regulation (3) of Public Financial Management Act Regulations 2019 (L.I. 2378). The revision was made due to two primary reasons. First, there were lower domestic interest payments and amortization following the …