Latest extension for DDEP yielding positive response – Finance Ministry

The Ministry of Finance has revealed that it is receiving the needed response from various stakeholders and individuals after it opened a three-day administrative window for bondholders who yet are to complete registration processes to do so following Tuesday’s deadline for the Debt Exchange Programme.

Speaking on behalf of the Finance Minister at the 2023 State Internet and Governance Authority Annual Stakeholders Engagement in Kwahu on Thursday, February 9, Deputy Finance Minister Abena Osei-Asare said the ministry is hopeful that the decisive steps adopted by the government will yield the necessary objectives.

“The government has responded decisively by responding to the crisis by adopting several measures to reset the economy and restore macro-economic stability. In connection with our debt exchange programme, the exercise was closed on Tuesday and a three-day administrative window opened to end on Friday for a few people who have to go through the respective processes to go through.

“We have received a considerable response from most of the stakeholders, institutions and for that we are grateful,” Osei-Asare said.

Madam Osei-Asare who expressed worry over the low level of dividends being paid by various SOEs to the government indicated that cost-efficiency measures remain a major part of the economic solutions and urged various SOE CEOs to enforce compliance to keep public spending measures in line with the current economic conditions and only focus on critical projects that will end benefits in this financial turmoil.

On his part the Minister for Public Enterprises, Joseph Cudjoe indicated that the Ministry of Finance may no longer be in the position to issue cheques to agencies and challenged all heads to be sensitive to the current economic situation and adopt strategic management skills.

He noted that the state ownership policy which is being discussed at the final stages for approval is intended to harmonize the public financial management act with SIGA act to address all ambiguities and inconsistencies identified over the years and solve all issues of fragmented policy issues in the sector.