{"id":1221687,"date":"2022-10-11T17:50:58","date_gmt":"2022-10-11T17:50:58","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/10\/11\/debt-management-strategy-government-constitutes-five-member-committee-to-engage-financial-sector\/"},"modified":"2022-10-11T17:50:58","modified_gmt":"2022-10-11T17:50:58","slug":"debt-management-strategy-government-constitutes-five-member-committee-to-engage-financial-sector","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/10\/11\/debt-management-strategy-government-constitutes-five-member-committee-to-engage-financial-sector\/","title":{"rendered":"Debt management strategy: Government constitutes five-member committee to engage financial sector\u00a0\u00a0\u00a0"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Accra, Oct 11, GNA \u2013 The Government has constituted a five-member Committee to lead discussions with financial sector players on Ghana\u2019s debt management.\u00a0\u00a0<\/p>\n<p>The Committee constituted by the Ministry of Finance and the Bank of Ghana (BoG) is led by Mr Albert Essien, with Mr Simon Dornoo as Vice Chair, a statement issued by the Ministry of Finance on Tuesday in Accra said.\u00a0\u00a0<\/p>\n<p>The move forms part of efforts to ensure orderliness and confidence in the Government\u2019s ongoing negotiations with the International Monetary Fund (IMF).\u00a0\u00a0<\/p>\n<p>The other members of the Committee are Mr Alex Asiedu, Ms Mabel Nyarkoa Porbley, and Mr Peter Enti.\u00a0\u00a0<\/p>\n<p>The statement noted, \u201cThe Committee will be consultative and will among other things lead discussions with the financial services industry and other stakeholders to provide industry-wide inputs and transmit industry concerns on debt management strategy to the MoF and BoG.\u201d\u00a0\u00a0<\/p>\n<p>The statement reiterated the Government\u2019s commitment to protecting the domestic financial sector, noting that: \u201cThe stability of the domestic financial ecosystem is critical to a successful IMF-supported economic programme.\u201d\u00a0\u00a0<\/p>\n<p>\u201cThe Government will take all necessary steps to protect the sector as we have done in the past,\u201d the statement said.\u00a0\u00a0<\/p>\n<p>It was noted that the Government needed the support and trust of all Ghanaians to ensure that a historic arrangement was reached with the IMF.\u00a0\u00a0<\/p>\n<p>\u201cWe are confident that such engagement and collaboration will enable us to recover very quickly and strongly from our current macroeconomic challenges,\u201d the statement noted.\u00a0\u00a0<\/p>\n<p>It was also stated that a similar engagement would be held with Ghana\u2019s external bondholders.\u00a0\u00a0<\/p>\n<p>Ghana is currently engaging with the IMF for a loan facility to support the implementation of its homegrown economic programme to ensure a stable and resilient macroeconomic environment, ensure debt sustainability and maintain social cohesion.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n<p>GNA\u00a0<\/p>\n<p><h3 class=\"jp-relatedposts-headline\"><em>Related News<\/em><\/h3>\n<\/p><\/div>\n<p><script type=\"294393c4c4e77761848b5369-text\/javascript\">(function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; 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