Abdulkarim Mohammed (M) with other officials at the launch
The Economic Governance Platform (EGP) and Oxfam Ghana have launched a new platform aimed at simplifying the country’s debt.
The initiative seeks to break down complex financial information, making it easier for Ghanaians to understand the country’s debt situation and hold policymakers accountable.
Coordinator for EGP, Abdulkarim Mohammed emphasized that debt has been central to Ghana’s recurring economic crises, often leading to International Monetary Fund (IMF) bailouts. Despite this, discussions around debt management remain highly technical, leaving many citizens unaware of the nation’s financial trajectory.
“The platform enhances transparency and accountability in terms of how public finances are managed,” Mr. Mohammed stated.
The EGP Coordinator stressed the need for stronger parliamentary oversight to curb excessive government spending.
He called for the establishment of a parliamentary budget office to scrutinize fiscal policies and enhance transparency.
The Auditor-General’s role in recovering mismanaged funds was also highlighted, with calls for strengthened enforcement to deter financial mismanagement.
The platform provides real-time data on Ghana’s national debt, categorizing domestic and external components. It also tracks government borrowing patterns and highlights inefficiencies in public spending.
The initiative aims to empower citizens with accurate, publicly available information sourced from the Bank of Ghana, the Ministry of Finance, and the IMF.
The initiative is supported by Oxfam Ghana and the Open Society Foundation.
By Wletsu Ransford