Minister of Finance, Ken Ofori-Atta has been adjudged the African Finance Minister of the Year at the Annual African Development Bank (AfDB) Meeting in Busan, South Korea.
He won the award for his efforts in spearheading Ghana’s impressive recent macroeconomic performance
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Having been appointed Ghana’s Finance Minister 16 months ago, Mr. Ofori-Atta has been hailed for his prudent economic management that has boosted confidence and optimism in Ghana’s economy.
The Finance Minister’s achievements in the past year include leading Ghana to record a strong showing in its recent bond issuance, which raised US$ 2.0bn in 10-year and 30-year Eurobonds of $1.0bn each.
The bond was four times over-subscribed, registering over US$8bn in offers received, which made it the first time a sub-Saharan country with a ‘B-’ has priced a sovereign bond at such levels.
He has, thus, been named as the most result-oriented finance minister in Africa during this year’s African Development Bank (AfDB) Meeting.
Mr. Ofori-Attah has constantly spoken of his commitment to make Ghana’s economy one of the strongest on the continent and beyond.
“The question that we should ask is how can you inherit a budget deficit of 9.3% of GDP, proceed to reduce taxes, bring down inflation, bring down interest rates, increase economic growth, increase your international reserves, maintain relative exchange rate stability, reduce the debt to GDP ratio and the rate of debt accumulation, pay almost half of arrears inherited, stay current on obligations to statutory funds, restore teacher and nursing training allowances, double the capitation grant, implement free senior high school education and yet still be able to reduce the fiscal deficit from 9.3 per cent to an estimated 5.6 per cent of GDP?” he told the media earlier this year.
The Africa Banker Awards is organised in partnership with the African Development Bank (AfDB).