Dr. Cassiel Ato Forson
The federal government met solely three out of 11 structural benchmarks (SB) of the Worldwide Financial Fund due between January and Might 2025.
In keeping with the IMF Nation Report on Ghana, some missed structural benchmarks have been applied with delay.
It, nevertheless, indicated that robust actions have been taken in latest months to handle delays within the structural reforms.
It talked about that the quarterly electrical energy tariff changes (quarterly SB ranging from end-January 2025) resumed solely in April 2025 because of delays in appointing a brand new board of the vitality sector regulator (PURC), whereas the publication of the audit of Electrical energy Firm of Ghana (ECG)’s collections and makes use of (end-January 2025 SB) was achieved in February 2025 and coated an extended interval than mandated by program conditionality.
“The total integration of Ghana Digital Procurement System (GHANEPS) with GIFMIS, an end-December 2024 structural benchmark, was achieved in Might 2025 (prior motion). The authorities accomplished the forward-looking overarching restructuring plan for NIB in Might (prior motion) and the federal government has recapitalised NIB to make sure a non-negative Capital Adequacy Ratio (CAR) (prior motion)—and to totally adjust to the minimal CAR of 13.0% (with out forbearance), forward of the end-2025 timeline”, it continued.
In opposition to this backdrop, the authorities have applied—forward of schedule—two end-September 2025 SBs: amending the fiscal accountability framework and adopting a technique to restructure Ghana’s electrical energy firm— together with opening operations to personal sector participation”, the Fund stressd.
In the meantime the Fund, stated all end-December 2024 efficiency standards (PCs) and most indicative targets (ITs) have been met, aside from the IT on accumulation of internet payables.
“The latter was missed by 3.9% of Gross Home Product, reflecting the massive accumulation of payables from MDAs exterior Ghana’s public built-in monetary administration data system (GIFMIS) forward of the elections”.
Since then, it identified that daring corrective measures have been adopted to strengthen spending dedication controls and compliance with the Public Monetary Administration Act.
DISCLAIMER: The Views, Feedback, Opinions, Contributions and Statements made by Readers and Contributors on this platform don’t essentially symbolize the views or coverage of Multimedia Group Restricted.
DISCLAIMER: The Views, Feedback, Opinions, Contributions and Statements made by Readers and Contributors on this platform don’t essentially symbolize the views or coverage of Multimedia Group Restricted.
Source link
