The Mid-Year Fiscal Policy Review of the Budget Statement and Economic Policy of the Government of Ghana for the 2023 Financial Year was presented to Parliament on Monday, 31st July, 2023 by the Minister of Finance, Ken Ofori-Atta.

Professor Justice Nonvignon, an Associate Professor and Health Economist at the School of Public Health, University of Ghana, has urged the government not to succumb to external pressures to scrap the COVID-19 Levy.

In accordance with Section 28 of the Public Financial Management Act, 2016 (Act 921), the Mid-Year Fiscal Policy Review of the Budget Statement and Economic Policy of the Government of Ghana for the 2023 Financial Year, will be presented to Parliament on Monday, 31st July, 2023.

Bank of Ghana recorded a loss of 60.8 Billion Ghana cedis for 2022.  This was captured in its Annual Report for last year. The Central Bank’s record loss is coming after it posted a 1.2 Billion Ghana cedis profit in 2021.

Ghana’s government has written off half of the 77.6 billion cedis ($7 billion) it owed to the central bank and replaced the remainder with a lower yielding, 15-year bond, three sources with direct knowledge of the transaction told Reuters.

Fitch Solutions believes that Ghana will reach a debt deal with its external creditors in the second half of 2024.