Govt constitutes five-member committee to engage financial sector

The government has constituted a five-member committee to lead discussions with financial sector players on the Ghana’s debt management.

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 in Accra yesterday said.

The other members of the committee are Mr Alex Asiedu, Ms Mabel Nyarkoa Porbley, and Mr Peter Enti.

The move forms parts of efforts aimed at ensuring orderliness and confidence in the government’s ongoing negotiations with the International Monetary Fund (IMF).

“The 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,” the statement said.

The statement reiterated the government’s commitment to protect the domestic financial sector.

“The stability of the domestic financial ecosystem is critical to a successful IMF-supported economic programme,” it said.

“The government will take all necessary steps to protect the sector as we have done in the past,” it said.

The statement said the government needed the support and trust of Ghanaians to ensure that a historic arrangement was reached with the IMF.

“We are confident that such engagement and collaboration will enable us to recover very quickly and strongly from our current macroeconomic challenges,” it said.

According to the statement, similar engagement would be held with the Ghana’s external bondholders.

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