{"id":1261927,"date":"2022-12-06T02:22:40","date_gmt":"2022-12-06T02:22:40","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/12\/06\/fiscal-discipline-will-be-extremely-key-going-forward-finance-ministry\/"},"modified":"2022-12-06T02:22:40","modified_gmt":"2022-12-06T02:22:40","slug":"fiscal-discipline-will-be-extremely-key-going-forward-finance-ministry","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/12\/06\/fiscal-discipline-will-be-extremely-key-going-forward-finance-ministry\/","title":{"rendered":"Fiscal discipline will be &#8216;extremely&#8217; key going forward &#8211; Finance Ministry"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"td-post-featured-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" width=\"660\" height=\"401\"  alt=\"\" title=\"Finance\" src=\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/12\/Finance.png\" data- class=\"entry-thumb td-modal-image lazyload\"\/><noscript><img loading=\"lazy\" decoding=\"async\" width=\"660\" height=\"401\" class=\"entry-thumb td-modal-image\" src=\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/12\/Finance.png\"   alt=\"\" title=\"Finance\"\/><\/noscript><figcaption class=\"wp-caption-text\">Samuel Danquah Arkhurst is a Chief Economics Officer and Director of Treasury and Debt Management Division.<\/figcaption><\/figure>\n<\/div>\n<p><strong>The government has assured that going forward fiscal discipline is going to be key in its dealings especially as the International Monetary Fund (IMF) is coming onboard to assist the country to deal with the challenges.<\/strong><\/p>\n<p>Speaking during the launch of the Debt Exchange Programme in Accra on Monday December 5, Samuel Danquah Arkhurst, Chief Economics Officer and Director of Treasury and Debt Management Division at the Ministry said \u201cFiscal discipline will be extremely Key going forward.\u201d<\/p>\n<p>The\u00a0Finance Minister Ken Ofori-Atta during the launch justified the introduction of the debt exchange programme.<\/p>\n<p>He said the programme has become necessary because of the enormous challenges with debt servicing.<\/p>\n<p>He revealed that debt servicing is consuming \u201calmost of government\u2019s revenue and also 70 per cent of tax revenue.\u201d<\/p>\n<p>\u201cWhich is why we are announcing this to restore our capacity to service debt,\u201d he stressed.<\/p>\n<p>Under the debt exchange programme, he said, \u201d domestic bond holders will be asked to exchange their instruments for new ones.\u201d<\/p>\n<p>He added \u201cExisting domestic bonds as of 1st December will be exchanged for a set of four new bonds maturing in 2027, 2029, and 2037.\u201d<\/p>\n<p>The annual coupons on all of these bonds will be set at 0 % in 2023, 5% in 2024 and 10% from 2025 until maturity.<\/p>\n<p>\u201cCoupon payments will be semi annual \u2018 he stressed.<\/p>\n<figure class=\"wp-block-image size-large td-modal-image\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-273157 ls-is-cached lazyloaded td-animation-stack-type0-2\"   alt=\"\" width=\"686\" height=\"960\" src=\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/12\/FB_IMG_1670194000672.jpg\" data-\/><\/figure>\n<figure class=\"wp-block-image td-modal-image\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-273156 ls-is-cached lazyloaded td-animation-stack-type0-2\"   alt=\"\" width=\"693\" height=\"960\" src=\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/12\/FB_IMG_1670194005340-1.jpg\" data-\/><\/figure>\n<p>\u00a0<\/p>\n<p><strong>By Laud Nartey|3news.com|Ghana<\/strong><\/p>\n<p>\u00a0<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Samuel Danquah Arkhurst is a Chief Economics Officer and Director of Treasury and Debt Management Division. The government has assured that going forward fiscal discipline is going to be key in its dealings especially as the International Monetary Fund (IMF) is coming onboard to assist the country to deal with the challenges. Speaking during the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1261928,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[15217,685,457,3367,2079,459],"class_list":["post-1261927","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-discipline","tag-extremely","tag-finance","tag-fiscal","tag-key","tag-ministry"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1261927","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1261927"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1261927\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1261927"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1261927"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1261927"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}