As part efforts to help mitigate the potential impact of government’s debt operation on the financial sector, the Ghana Financial Stability Fund (GFSF) has being established by the Government of Ghana to serves as additional safety net.
Under the Fund, the government will provide financing support consistent with the resources envisaged by the IMF Extended Credit Facility (ECF) macro-framework baseline and
Read full article.intends to deploy these resources in phases to address the recapitalization efforts of the financial sector
According to the operational framework, the Government of Ghana has committed the GHS equivalent of US$750 million to the first phase funding of the GFSF, which will be funded as follows: US$250 million concessional loan from the World Bank/IDA and US$500 million from GoG in the form of cash and marketable bonds to support the rebuilding of capital buffers for the financial sector following the impact of the GoG debt operation.
The GoG bond will be a tap issuance of one of the longest-dated new benchmark bond series issued under the Domestic Debt Exchange Programme (DDEP). Overall, the GoG will also stand ready to do all it takes within the resource envelope to preserve the stability of the financial system.
Meanwhile, the Ministry of Finance (MoF) will work with the International Monetary Fund to address any cash flow gaps, especially in light of the tight financing conditions in the domestic market.
See the operational framework of the Ghana Financial Stability Fund below:
Ghana’s leading digital news platform, GhanaWeb, in conjunction with the Korle-Bu Teaching Hospital, is embarking on an aggressive campaign which is geared towards ensuring that parliament passes comprehensive legislation to guide organ harvesting, organ donation, and organ transplantation in the country.
File photo of Ministry of Finance Headquarters
