Advertisement
Advertisement
Ghana News

Minister of Finance swears in Fiscal Risk Committee to strengthen Ghana’s fiscal management

Advertisement

The Minister of Finance, Ken Ofori-Atta, has sworn in the Fiscal Risk Committee in accordance with the Public Financial Management Regulations, 2019, LI 2378. The swearing-in ceremony is in line with the government’s commitment to strengthening fiscal management in Ghana.

The Ministry of Finance has explained that the committee’s primary role is to identify and prudently manage fiscal risks. This is an essential aspect of ensuring that the necessary arrangements are put in place to achieve fiscal targets and maintain financial stability in Ghana.

Advertisement

Fiscal risks can arise from macroeconomic shocks, such as changes in the global economy, commodity prices, and exchange rates. They can also result from contingent liabilities, which are potential future obligations that may arise from current events or circumstances.

The committee, made up of members from the Ministry of Finance, Bank of Ghana, National Insurance Commission, Securities and Exchange Commission, and the Ghana Revenue Authority, will be responsible for providing advice on the management of fiscal risks.

For the most part, the committee will be tasked with identifying and assessing fiscal risks, developing risk management strategies, and monitoring and reporting on the implementation of risk management plans. They will also advise the government on ways to mitigate fiscal risks and improve the country’s fiscal sustainability.

In conclusion, the Fiscal Risk Committee is an important step towards strengthening Ghana’s fiscal management and ensuring that the necessary measures are put in place to manage fiscal risks prudently. The committee’s work will be critical in ensuring that Ghana’s fiscal targets are achieved and that financial stability is maintained.

Advertisement
Advertisement

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement
Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker!