Ken Ofori-Atta is Africa’s most innovative Finance Minister – Journalist applauds

June 25, 2021 12:28 PM

Ghana’s Finance Minister, Ken Ofori-Atta has been applauded and commended for his innovative ways of running the country’s economy in the midst of the COVID-19 pandemic.

Ken Ofori-Atta (right) and Information Minister, Kojo Oppong Nkrumah (left).

According to the chief Africa correspondent for The Economist, John McDermott, Mr. Ofori-Atta deserves commendation for his ability to manage the country’s finances and steering the economy back to its pre-COVID-19 status.

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In a tweet, McDermott said the minister has to be praised for rejuvenating Ghana ‘s economy, restoring macroeconomic stability and renewing investor confidence in an economy that suffered a setback from the coronavirus pandemic.

“Africa’s most innovative Finance Minister,” McDermott described Ofori-Atta in a tweet.

Meanwhile, Ghana prepares to raise US$1 billion through the sale of sustainable bonds, including Africa’s first social debt.

The proceeds of the bonds will help refinance domestic debt used for social, environmental and educational projects.

The sale, likely to be a mix of social and green bonds, comes months after Ghana sold four-year zero-coupon debt to international investors as part of a US$3.025 billion Eurobond deal that also included 20-year, 12-year and seven-year securities.

This will help reduce the government budget gap which is expected to be 9.5% of gross domestic product this year, down from a 11.7% shortfall in 2020.