Ghana: IMF set to conclude Governance Diagnostic report by Q1 2024

The International Monetary Fund (IMF) has indicated the impending finalization of its Governance Diagnostic report on Ghana, with expectations for the report to be concluded in the first quarter of 2024. This follows the completion of a thorough assessment under the Post Covid-19 Programme for Economic Growth, aligning with Ghana’s efforts to fortify governance systems and stimulate inclusive growth.

Led by Gomiluk Otokwala, an IMF Technical Assistance mission concluded its assessment of Ghana’s governance and anti-corruption framework from October 16–27, 2023. The mission, comprising experts from the Legal, Fiscal Affairs, and Monetary and Capital Markets Departments, explored gaps and proposed reform options in line with the IMF’s commitment to addressing governance weaknesses.

The IMF mission engaged extensively with Ghanaian authorities, evaluating the nation’s governance and anti-corruption initiatives. Discussions covered recent government actions to fortify governance, with a focus on anti-corruption measures in revenue administration, public financial management, rule of law, and financial sector oversight.

Key figures in Ghana, including the Chief Justice, Attorney General, Deputy Minister for Finance (Revenue), and leadership of the Bank of Ghana, participated in high-level meetings during the IMF mission. The deliberations centered on enhancing governance across various sectors, including the enforcement of property rights and measures against money laundering and terrorism financing.

The IMF mission conducted a comprehensive assessment of Ghana’s governance and anti-corruption endeavors, involving stakeholders from government, private sector, academia, civil society, and international development partners. The forthcoming report, anticipated in Q1 2024, is poised to provide detailed findings and recommendations for the country’s governance enhancement.

Source:norvanreports