Finance Minister, Ken Ofori-Atta will announce a 5-Member Committee consisting of prominent financial services professionals to lead extensive stakeholder engagements across all the key segments of the financial sector – banking, asset, management, pensions, and insurance – as part of moves to protect the financial system.
This is coming following the probability that the nation may undertake a debt restructuring programme.
The announcement of the Committee Members is expected to be made in the coming days.
According to Finance Minister, Ken Ofori-Atta, the committee will immediately get to work to engage key stakeholders in the financial services sector, additional to ongoing engagements with Civil Society Organizations (CSOs), social partners (labour unions, employers, and FBOs), academia, industry professionals, and the leadership of Parliament.
This, he says, is government ambition to protect the financial sector.
“Ghana needs a viable domestic financial system to support its development programme, especially in these three years with limited access to the International Capital Market. Therefore, everything must, and will be done, to protect our financial sector; and there must be room for a win-win conversation through extensive stakeholder engagement with both our domestic and external investors”.
“Ghana has always had a collaborative approach with its partners and we shall, I am confident, come out with a ‘historic arrangement’”, he stressed.
To him, the government cares about the people, saying “this is a government that protected the savings of 4.6 million Ghanaian depositors with the reform of the banking and financial sector even in our early days. We owe it to the economy and Ghanaians to keep protecting it”.
He added that the sanctity and the well-functioning of the financial system is sacrosanct and there is the need to support and trust all Ghanaians to deliver this.
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