Press Release: CS Platform position as Ghana’s IMF Bailout Negotiations is finalized

The Civil Society Platform on IMF Bailout is aware of the arrival of the IMF team in Ghana to finalize negotiations on the bailout plan with the Government. In connection with this, we strongly reiterate our appeal to both parties (the Government of Ghana and the IMF team) to consider and adopt the underlisted recommendations of Civil Society Organizations. These recommendations represent the Common Positions of Civil Society on the final bailout agreement adopted during the National Forum on the IMF Bailout held on 18th November 2014. We are of the strong opinion that the adoption of these recommendations would ensure better allocation of public resources, fiscal discipline, efficient and effective service delivery and enhance our country’s Public Financial Management system so that the current bailout agreement becomes the very last going forward.

Key Recommendations of the CS Platform after the National Forum held on 18th Nov. 2014:

Accountability and Transparency

  • Effective implementation of the GIFMIS project and fast track the implementation of budget monitoring and oversight office in parliament.
  • Improve upon effective system monitoring at the MDAs and implementation of the National Action Plan on the fight against corruption.

Linking Stabilization to Transformation

  • Narrow all deficit financing and create more revenue spaces accordingly.
  • Harnessing the professional or technical capacities of civil society in setting the country’s development agenda.

Fiscal Discipline

  • Immediately compile and harmonize all fiscal responsibility related rules in existing legislations and ensure compliance.
  • Conduct a “Value for Money” review of all existing and planned projects to check waste of public funds.

Protect Strategic Pro-Poor and Pro-Development Spending

  • Continue and sustain the current fertilizer subsidies project with farmers.
  • Consider giving farmers a fair price for their produce to counter smuggling and increase revenue.

Signed:

Mr. Joseph Winful

(Chairman-CS Platform on IMF Bailout)

Dated February 20, 2015

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