The Finance Ministry has once again been labeled the most fiscally reckless public institution in Ghana for the period from 2021 to 2023, according to a new report by IMANI Africa and Oxfam Ghana. This follows a similar ranking from 2015 to 2020.
The report, part of the third edition of the Fiscal Recklessness Index, also ranked the Ministries of Food and Agriculture, Communication and Digitalisation, Roads and Highways, and Health.
During a media briefing, Dennis Asare, Senior Research Associate at IMANI Africa, revealed that Ghana lost over GH₵ 4.9 billion in 2023 due to various financial irregularities, which could have funded crucial social intervention programs like the Livelihood Empowerment Against Poverty (LEAP) initiative and the Ghana School Feeding Programme.
Mr. Asare noted that nearly 90% of identified irregularities stem from the Finance Ministry, reflecting broader systemic issues.
He emphasized that fiscal mismanagement extends beyond the Ministry’s headquarters to other agencies it oversees, with a critical issue being the government’s failure in tax collection.
The report recommends establishing a more empowered fiscal council to enhance oversight, stressing the need for legal backing and authority for effective operations.
