Finance Minister, Ken Ofori-Atta
Ghana facing economic distress
Key ratings agencies downgrade Ghana’s creditworthiness
Parliament at an impasse over E-Levy
Minister of Finance, Ken Ofori-Atta is expected to on March 24, 2022 announce a number of measures aimed at addressing Ghana’s current economic challenges.
The move comes after government held a crunch
Read full articleCabinet meeting at the Peduase Lodge last weekend.
Some key measures set to be announced by the finance minister will entail pay cuts, government’s flagship programmes, interventions to mitigate the cedi’s depreciation among others.
In addition to the address, it is expected that Ken Ofori-Atta will provide an update on government's decision on the controversial Electronic Transaction Levy which has received widespread backlash from citizens and lawmakers.
Meanwhile, government plans to inject US$2billion into the economy to shore up the strength of the cedi against major trading currencies.
The value of the Ghana cedi has declined by about 20 percent to the US dollar so far this year, according to a report by nasdaq.com
The fall of the local currency makes it the fastest in decades.
However, Ken Ofori-Atta’s address is expected to take place at 1:00 pm at the Ministry of Finance in Accra.
