Finance Minister Dr. Mohammed Amin Adam has disclosed that the government has paid GHS 12 billion to bondholders under the Domestic Debt Exchange Programme.
The move he stated forms part of efforts to help stabilise Ghana’s economy and bolster investor confidence, the government.
The Minister revealed this while presenting the mid-year budget review he presented before Parliament on Tuesday, July 23, 2024.
He said the government remains dedicated to meeting its financial obligations and ensuring economic stability.
“The payment of GHS 12 billion to bondholders marks a critical step in our efforts to restore confidence in the financial markets and stabilise the economy,” stated Dr. Adam.
“This payment is a testament to our commitment to fiscal discipline and prudent financial management.”
“Through this programme, we have not only managed to honour our commitments to bondholders but also created a more sustainable debt profile for the nation,” Dr Adam explained.
He further revealed that government has also made positive gains in stabilizing inflation and the exchange rate.
“Since 2022, inflation has dropped by 31 percentage points, and the exchange rate has shown signs of stabilization. These are critical indicators of our economic resilience and recovery,” he noted.
Meanwhile, over GH¢5.4 billion has been disbursed for various social programs, including the Livelihood Empowerment Against Poverty (LEAP) initiative, the School Feeding Programme, and the National Health Insurance Scheme (NHIS).
Aside from that, nearly GH¢10 billion has been invested in the road sector since January 2024.
On education he said in the first half of 2024, GH¢1.5 billion was invested in the Free SHS programme, ensuring that the youth have access to quality education.
“Investing in education is investing in the future of our nation. We are committed to building a skilled and educated workforce,” Dr. Adam stated.
The government has also launched a GH¢8.2 billion programme to boost small and medium-sized enterprises (SMEs), recognising their critical role in job creation and economic development.
By: Rainbowradioonline.com/Ghana
