Chief Economist Correspondent For Africa Says Ken Ofori-Atta Is Africa’s Most Innovative Finance Minister

Listen to this Article Now

The Minister for Finance, Ken Ofori-Atta has gotten tributes for utilizing imaginative measures in dealing with the nation’s finances and guiding the economy back to its pre-COVID-19 levels.

John McDermott, who is the Chief Africa Correspondent for the Economist lauded the Minister for assuming a basic part in reviving the economy, reestablishing macroeconomic strength, and recharging financial backer trust in an economy that experienced a difficulty the Covid pandemic.

Tweeting using the handle @johnpmcdermott, he portrayed the Minister as “Africa’s most inventive Finance Minister” as Ghana plans to raise $1 billion through the offer of economical bonds, including Africa’s first friendly obligation.

The returns of the bonds will help refinance homegrown obligation utilized for social, ecological and instructive activities.

The deal, prone to be a blend of social and green bonds comes a long time after Ghana sold the four-year zero-coupon obligation to worldwide financial backers as a feature of a $3.025 billion Eurobond bargain that additionally included 20-year, 12-year, and seven-year protections.

This will help decrease the public authority spending hole which is relied upon to be 9.5% of GDP this year, down from an 11.7% setback in 2020.