Consultative Committee on financial sector stakeholder engagement formed

The Ministry of Finance (MoF) and the Bank of Ghana (BoG) have constituted a five-member Consultative Committee consisting of prominent financial services professionals to lead extensive stakeholder engagements across all the key segments of the financial sector. The committee is chaired by Mr. Albert Essien, with Mr. Simon Dornoo as vice chair. The other members of the Committee are Mr. Alex Asiedu, Ms. Mabel Nyarkoa Porbley, and Mr. Peter Enti. The committee will be consultative, and will, among other things, lead discussions with the financial services industry and other stakeholders to provide industry-wide inputs and transmit industry concerns on debt management strategy to the MoF and BoG. The expectations and goals are to ensure orderliness and confidence in the government’s ongoing negotiations with the IMF. As announced during the ministry’s press briefing, a similar engagement will be undertaken with our external bondholders. "The stability of the domestic financial ecosystem is critical to a successful IMF-supported economic programme, and government will take all necessary steps to protect the sector as we have done in the past." "We need the support and trust of all Ghanaians to ensure that a historic arrangement is reached with the IMF. We are confident that such engagement and collaboration will enable us to recover very quickly and strongly from our current macroeconomic challenges."

The Ministry of Finance (MoF) and the Bank of Ghana (BoG) have constituted a five-member Consultative Committee consisting of prominent financial services professionals to lead extensive stakeholder engagements across all the key segments of the financial sector. The committee is chaired by Mr. Albert Essien, with Mr. Simon Dornoo as vice chair. The other members of the Committee are Mr. Alex Asiedu, Ms. Mabel Nyarkoa Porbley, and Mr. Peter Enti. The committee will be consultative, and will, among other things, lead discussions with the financial services industry and other stakeholders to provide industry-wide inputs and transmit industry concerns on debt management strategy to the MoF and BoG. The expectations and goals are to ensure orderliness and confidence in the government’s ongoing negotiations with the IMF. As announced during the ministry’s press briefing, a similar engagement will be undertaken with our external bondholders. "The stability of the domestic financial ecosystem is critical to a successful IMF-supported economic programme, and government will take all necessary steps to protect the sector as we have done in the past." "We need the support and trust of all Ghanaians to ensure that a historic arrangement is reached with the IMF. We are confident that such engagement and collaboration will enable us to recover very quickly and strongly from our current macroeconomic challenges."