Ghanaian investment banker and Nana Akufo- Addo’s Minister of Finance Ken Ofori-Atta, has asked Parliament to support the Domestic Debt Exchange Programme. He said that this would help make it possible for the country to pay its debts.
On Thursday, while he was briefing the House on the Domestic Debt Exchange Programme he said the programme is essential in order to eliminate the funding crisis and “enable the government to meet the debt sustainability target of 55% of debt to GDP in present value terms by 2028.”
He stated once again that the debt exchange is a component of a broader government response strategy that is being implemented in order to address the current challenges. Mr Ofori-Atta went on to say that as a result, the government will be able to meet the criteria for a programme offered by the International Monetary Fund (IMF), which will boost confidence in the economy.
In addition to the growth and sustainability bill, the finance minister has pushed for the passage of amendments to the income tax, excise duty, and excise tax stamp laws.
He elaborated, saying, “Since the tariff adjustment by the PURC, publication of the Auditor-report General’s in Covid-19 spending, and onboarding of GET Fund DACF and road fund have all been successfully completed, the passage of these bills will enable government to complete four of the five agreed to prior actions in the Staff Level Agreement”.
Source – Tru News Report