The Minister for Finance, Dr Cassiel Ato Forson, has introduced the institution of a devoted Compliance Desk inside the Ministry to observe and implement adherence to the newly upgraded Public Monetary Administration (PFM) Act, 2025.
This announcement was made throughout a gathering with the World Financial institution Africa crew, led by Vice President Ousmane Diagana.
The assembly adopted the profitable Nationwide Financial Dialogue, which was held with sturdy help from the World Financial institution.
Addressing the gathering, Dr. Forson confused the pressing have to deal with fiscal indiscipline, notably amongst lined entities which were awarding contracts with out acquiring the legally required graduation certificates.
These practices, he mentioned, have led to critical inefficiencies and budgetary shortfalls.
To curb these points, a key modification to the PFM Act now authorises the Ministry of Finance to challenge graduation authorisations, marking a big shift in fiscal oversight.
Extra importantly, the Ministry is instituting a Compliance Desk that can observe and consider whether or not ministries, departments, and different lined entities comply absolutely with the brand new regulation.
The Compliance Desk may also keep a Compliance League Desk, which is able to publicly rank establishments primarily based on their adherence to monetary laws.
Persistent non-compliance will entice sanctions, the Minister warned, reaffirming the federal government’s dedication to transparency and accountability in public finance.
“We’re decided to make sure that each programme we implement delivers most effectivity and affect,” he mentioned. “That is how we construct a disciplined and affluent Ghana.”
Vice President Diagana congratulated the Minister on his current nomination and praised Ghana’s ongoing fiscal reforms.
He reaffirmed the World Financial institution’s sturdy partnership with Ghana, describing the nation as a beacon of stability and progress within the area.
The brand new Compliance Desk is anticipated to start operations within the coming weeks.
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