{
  "title": "Ghana: Technical Assistance Report-Advancing SOE Fiscal Risks Management, Financial Oversight, Governance, and Investment Implementation",
  "publication": "Technical Assistance Reports, September 9, 2026",
  "sourceUrl": "https://www.imf.org/en/publications/technical-assistance-reports/issues/2026/09/09/ghana-technical-assistance-report-advancing-soe-fiscal-risks-management-financial-579493",
  "canonical": "https://www.imf.org/en/publications/technical-assistance-reports/issues/2026/09/09/ghana-technical-assistance-report-advancing-soe-fiscal-risks-management-financial-579493",
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  "summary": "This Technical Assistance Report reviews Ghana’s progress in strengthening the governance, financial oversight, fiscal risk management, and investment practices of state-owned enterprises (SOEs).",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Reviews Ghana’s progress in strengthening governance, financial oversight, fiscal risk management, and investment practices of state-owned enterprises (SOEs).\n- Notes significant reforms over the past decade, including:\n  - Establishment of the State Interests and Governance Authority (SIGA) as a centralized ownership entity.\n  - Adoption of the State Ownership Policy.\n  - Improvements in fiscal risk monitoring.\n- Identifies major remaining challenges:\n  - SOE liabilities continuing to grow.\n  - Fiscal risks concentrated in a small number of large entities.\n  - Persistent losses in the energy and commodity sector SOEs weighing on public finances."
    },
    {
      "heading": "Key Findings",
      "content": "- SOE landscape, fiscal risks, governance arrangements, and infrastructure investment practices were assessed.\n- Fiscal vulnerabilities are concentrated and linked to macro-critical SOEs.\n- Data gaps and limited information-sharing constrain effective fiscal risk monitoring and integration into the budget process.\n- Governance and board appointment practices require enhancement to improve accountability and performance.\n- Oversight of SOE-led infrastructure investments needs strengthening to reduce fiscal exposure."
    },
    {
      "heading": "Priority Policy Recommendations",
      "content": "- Strengthen oversight of macro-critical SOEs.\n- Integrate fiscal risk reporting into the budget process.\n- Improve data sharing between the Ministry of Finance and SIGA.\n- Enhance governance and board appointment practices for SOEs.\n- Strengthen oversight of SOE-led infrastructure investments."
    },
    {
      "heading": "Expected Outcomes of Implementation",
      "content": "- Improved SOE financial sustainability.\n- Reduced fiscal risks associated with SOEs.\n- Strengthened governance and accountability across state-owned enterprises.\n- Better SOE performance for the benefit of Ghana’s economy and public finances.\n\n---\n\n Content in this bundle\n\n- Tarea2026073\n  - Tarea2026073 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Tarea2026073 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/technical-assistance-reports/issues/2026/09/09/ghana-technical-assistance-report-advancing-soe-fiscal-risks-management-financial-579493"
    }
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    "Published: September 9, 2026",
    "Series: Technical Assistance Reports",
    "DOI: https://doi.org/10.5089/9798229060073.019",
    "Reviews Ghana’s progress in strengthening governance, financial oversight, fiscal risk management, and investment practices of state-owned enterprises (SOEs).",
    "Notes significant reforms over the past decade, including:",
    "Identifies major remaining challenges:",
    "SOE landscape, fiscal risks, governance arrangements, and infrastructure investment practices were assessed.",
    "Fiscal vulnerabilities are concentrated and linked to macro-critical SOEs.",
    "Data gaps and limited information-sharing constrain effective fiscal risk monitoring and integration into the budget process.",
    "Governance and board appointment practices require enhancement to improve accountability and performance.",
    "Oversight of SOE-led infrastructure investments needs strengthening to reduce fiscal exposure.",
    "Strengthen oversight of macro-critical SOEs.",
    "Integrate fiscal risk reporting into the budget process.",
    "Improve data sharing between the Ministry of Finance and SIGA.",
    "Enhance governance and board appointment practices for SOEs.",
    "Strengthen oversight of SOE-led infrastructure investments.",
    "Improved SOE financial sustainability.",
    "Reduced fiscal risks associated with SOEs.",
    "Strengthened governance and accountability across state-owned enterprises.",
    "Better SOE performance for the benefit of Ghana’s economy and public finances.",
    "**Tarea2026073**"
  ],
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