Ghana has reached out to the International Monetary Fund (IMF) seeking their assistance in tackling the issue of corruption within the country.
This request is in line with Ghana’s commitments under the $3 billion IMF programme, from which Ghana is anticipating a second installment of $600 million in November.
The IMF programme’s primary objectives are to address Ghana’s existing economic challenges and foster transparency and anti-corruption measures.
As part of this comprehensive program, the Ghanaian government has made a formal request to the IMF for technical support to conduct a corruption diagnostic assessment within its governance framework.
This assessment is crucial as it will contribute significantly to the ongoing efforts aimed at updating the National Anti-Corruption Action Plan.
Additionally, the government is set to rectify weaknesses within the current asset declaration system for public officials by enacting a new Conduct of Public Officers Act.
During a press briefing at the IMF-World Bank meetings in Marrakech, Morocco, the IMF’s African Department Director, Abebe Aemro Selassie, provided an update on Ghana’s progress.
He emphasized that this initiative represents Ghana’s dedication to promoting good governance and fighting corruption, as specified in the IMF programme.
Selassie stated, “On the governance diagnostic report, I think the request has been made [but] I’m not sure where we are in terms of being able to provide that, but as soon as we have the resources, we will do that. And it’s just a matter of time, I believe.”
Meanwhile, the IMF has pledged to provide all necessary support to the creditors to ensure that Ghana receives the second installment of IMF funds and can proceed with the programme.
Selassie further explained, “Action is also needed from the creditor side, and I have to tell you that, you know, whereas it took, I think, something like 9 months or more for Zambia to get the official creditor committee to be created, in Ghana’s case it was fairly rapid. So that’s what allowed us to go to the board and get the program approved. And we’re very hopeful that the ongoing discussions among official creditors will also expeditiously allow us to conclude the upcoming review. Again, the most recent Mission reached an agreement with the government on policies that are needed to tackle the most recent issues and also put in place an important budget for next year. So Ghana has done its fair share, and it’s for creditors to take steps, and we’re not going to be asking the government to do more adjustments because creditors haven’t asked either, so you know we will provide all the information necessary so creditors can move to allow us to go to the board as soon as possible.”