IMF Staff Concludes Governance Diagnostic for Ghana

IMF News, November 9, 2023

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Bibliographic details

• Published: November 9, 2023

Mission overview

• Press Release No. 23/387
• Date of publication: November 9, 2023
• Mission period in Accra: October 16–27, 2023
• Led by: Gomiluk Otokwala
• Departments represented: Legal, Fiscal Affairs, Monetary and Capital Markets

Objectives of the Governance Diagnostic

• Support the authorities’ efforts under the Post Covid-19 Program for Economic Growth to:
  • address gaps in the country’s governance systems
  • promote the efficiency of public spending
  • enhance competitiveness
  • lay the foundations for higher and more inclusive growth
• Assess scope and strength of the governance and anti-corruption framework in Ghana
• Identify gaps and offer reform options guided by the IMF’s framework for Enhanced Engagement in Addressing Governance Weaknesses

Areas assessed and issues discussed

• Anti-corruption framework in:
  • revenue administration
  • public financial management
  • rule of law (in particular, enforcement of property rights)
  • controls for Anti-Money Laundering / Combatting the Financing of Terrorism
  • governance in financial sector oversight
• Recent initiatives by Ghanaian authorities to strengthen governance and options to further reinforce those initiatives

Engagements and stakeholders consulted

• Met with Ghanaian authorities including:
  • the Chief Justice of Ghana and some Supreme Court Justices
  • the Attorney General and Minister for Justice
  • Deputy Minister for Finance in charge of Revenue
  • the Governor and Deputy Governors of the Bank of Ghana
• Met with heads and senior staff of key institutions and agencies including:
  • Ministry of Finance
  • Bank of Ghana
  • Office of the Special Prosecutor
  • Ghana Revenue Authority
  • Public Procurement Authority
  • Commission on Human Rights and Administrative Justice
  • Ghana Police Service
• Consultations also included senior officials and representatives of:
  • the private sector
  • academia
  • civil society
  • international development partners

Process and next steps

• Collaboration on the Governance Diagnostic will continue until the exercise concludes with the finalization of a report
• The report, setting out the findings in detail as well as recommendations, is expected to be finalized in the first quarter of 2024

Contacts

• IMF Communications Department, MEDIA RELATIONS
• PRESS OFFICER: Nicolas Mombrial
• Phone: +1 202 623-7100
• Email: MEDIA@IMF.org
• @IMFSpokesperson

IMF Staff Concludes Governance Diagnostic for Ghana — Press Release No. 23/387, November 9, 2023

References

• Ghana and the IMF
• Press Releases
• PRESS CENTER
• [IMF’s framework for Enhanced Engagement in Addressing Governance

Weaknesses](https://www.imf.org/en/Topics/governance-and-anti-corruption.)

• https://www.imf.org/en/home