• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Ghana Must Adopt Global Debt Accounting Standards to Avoid Fiscal Space Illusions – EGP Coordinator

6 months ago
in Business, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
297
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Ghana Must Adopt Global Debt Accounting Standards to Avoid Fiscal Space Illusions – EGP Coordinator

Ghana must adopt internationally accepted debt accounting standards to prevent the misrepresentation of its fiscal position and unsustainable borrowing, according to AbdulKarim Mohammed, Coordinator of the Economic Governance Platform (EGP).

Speaking at the CSO Budget Forum on inputs for the 2025 budget, Mr. Mohammed emphasized that debt has consistently been at the center of Ghana’s economic crises and International Monetary Fund (IMF) interventions.

He noted that inconsistencies in debt reporting have created a false perception of fiscal space, encouraging excessive borrowing.

“We have had a situation where, in the recent past, the Ministry of Finance determined which type of debt must be captured in our national debt. That gives a misleading impression of fiscal space, allowing further borrowing,” he said.

He cited the Sinohydro infrastructure-for-bauxite deal, the financial sector bailout, and energy sector debts as examples of obligations not fully reflected in Ghana’s public debt stock. “When such liabilities are omitted, it distorts the true picture of the country’s fiscal health,” he added.

Touching on the upcoming 2025 budget and with the government planning to abolish certain taxes, including the e-levy and COVID-19 levy, Mr. Mohammed warned that revenue shortfalls could further strain public finances.

RelatedPosts

The Global Push for a Just Transition in Energy Jobs

Why the IEA Reinstated Its “Business as Usual” Scenario

GRA Targets Offshore Income in Expanded Tax Compliance Drive

He called for stringent expenditure control, urging a review of the public sector wage bill and underperforming state-owned enterprises (SOEs).

“The government has taken commendable steps, such as reducing the number of ministers, but more can be done. Many SOEs are overstaffed and hemorrhaging the economy. We need to assess their viability and determine if they should still be maintained on government books,” he stated.

He also urged authorities to postpone non-urgent expenditures, such as gratuity payments under the ex-gratia system, and instead prioritize social spending to cushion the economically vulnerable.

Mr. Mohammed further called for decisive measures to curb financial irregularities highlighted in the Auditor-General’s report, stressing that plugging fiscal leakages is critical to improving the country’s economic stability.

His remarks come as the government prepares to present the 2025 budget, with businesses and investors closely monitoring how fiscal consolidation measures will be implemented to restore macroeconomic stability.

Tags: EGP CoordinatorGhana Must Adopt Global Debt Accounting Standards to Avoid Fiscal Illusions – EGP CoordinatorGlobal Debt Accounting Standards

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Gold Boom Drives Rising Costs for Australian Producers

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

Premier League: Spurs Stun Man City at Etihad; Arsenal Dominates Leeds to go Top

CHAN 2024: Senegal, Sudan Complete Semifinal Lineup

From Promise to Peril: How Exam Fraud is Eroding Ghana’s Educational Soul

The 10 Fastest-Growing Trading Nations in Africa

Trending

Features

The Global Push for a Just Transition in Energy Jobs

August 24, 2025

The Global Push for a Just Transition in Energy Jobs For years, energy workers from the fossil...

Why the IEA Reinstated Its “Business as Usual” Scenario

August 24, 2025

GRA Targets Offshore Income in Expanded Tax Compliance Drive

August 24, 2025

Gold Boom Drives Rising Costs for Australian Producers

August 24, 2025

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

August 24, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.