We’ve inherited a mess, but we’re fixing It with bold reforms – Adongo

Isaac Adongo, Member of Parliament for Bolgatanga Central and a committee subordinate of the Bank of Ghana, says Ghana’s caller 4th reappraisal with the IMF has yielded affirmative signs, though the roadworthy to economical betterment is acold from over.

“The IMF is comfy with our trajectory. We’ve met captious benchmarks and introduced bold reforms. That’s wherefore we’re expecting the adjacent tranche successful June,” helium said successful a elaborate interrogation connected GHOne TV monitored by MyNewsGh.

Adongo admitted that the existent medication inherited a monolithic arrears crisis, with antecedently undisclosed commitments swelling the nationalist debt.

“We discovered implicit 45 cardinal successful arrears—more than what the IMF had assumed. One bureau unsocial had commitments exceeding 21 cardinal without fiscal clearance,” helium revealed.

To code this, Adongo said the authorities has amended the Public Procurement Act, present empowering the Public Procurement Authority (PPA) to contradict procurement approvals without due fiscal clearance from the Ministry of Finance.

“We present person a procurement policeman. If you amusement up without clearance, you’re turned away. That’s however we’re controlling expenditure,” helium stressed.

He added that reforms person besides extended to authorities institutions similar the Electricity Company of Ghana (ECG), which tin nary longer marque purchases without ministerial concurrence, adjacent erstwhile spending from their ain equilibrium sheets.

Adongo further hinted astatine a imaginable overhaul of audit procedures for state-owned enterprises. “We’re asking however ECG’s auditors missed the biggest hazard successful its operations—procurement of imported items. We can’t spend rubber-stamp audits anymore,” helium stated.

For Adongo, these argumentation changes people a displacement successful accountability and power crossed the board. “We are yet plugging the loopholes and managing the state with discipline,” helium concluded.