Director of the Institute of Statistical, Social and Economic Research (ISSER), Professor Peter Quartey, has expressed concerns about the government’s tendency to exceed its budget, even under the supervision of the International Monetary Fund (IMF).
Speaking on the issue of fiscal responsibility, Professor Quartey highlighted that since the establishment of the Fiscal Responsibility Council in 2016, the government has consistently failed to adhere to its budgetary limits.
Despite the IMF’s ongoing involvement with Ghana’s financial management, Professor Quartey fears that external oversight alone will not suffice to curb the government’s excessive spending habits.
“From 2016 where we had the fiscal responsibility council and the IMF, yet we overspent and run our budget beyond normal levels.”
“The IMF will thus not stop us, we need our leaders to commit to fiscal discipline and transparency in order to restore macroeconomic stability.”