Systemic corruption blocking Ghana’s economic growth – IMF Report
The International Monetary Fund (IMF) has revealed that systemic corruption remains a major barrier to Ghana’s economic governance, public trust, and sustainable growth, despite the country’s reputation as a regional beacon of political stability.
In its High-Level Summary Technical Assistance Report released on November 5, the Fund presented a comprehensive Governance Diagnostic, pointing to persistent institutional weaknesses across multiple sectors of Ghana’s public administration.
According to the report, public procurement remains a primary source of corruption risk, with an “excessive reliance on sole-source and restricted tendering contracts without adequate justification or oversight” that lead to inflated costs and frequent underperformance.
It further revealed that the accumulation of large expenditure arrears, driven by weak budget controls, creates opportunities for corrupt practices by allowing for discretionary decisions on which bills get paid. This, according to the report, undermines fiscal credibility and worsens governance risks.
Beyond procurement, the IMF identified significant gaps in the country’s anti-corruption framework, describing key institutions as fragmented and under-resourced, while critical preventive mechanisms like asset declarations for public officials, conflict-of-interest rules, and beneficial ownership registries are either incomplete or poorly enforced.
“Revenue administration is weakened by outdated legal provisions, political influence, outdated systems, and limited digitalization, undermining the effectiveness of the Ghana Revenue Authority,” the report stated.
While acknowledging the constitutional independence of the judiciary, the IMF noted that it faces significant delays, resource constraints, and has had to deal with allegations of corruption, adding that complexities in land administration continue to erode property rights, creating further opportunities for graft.
In response to these findings, the Fund has proposed what it described as well-sequenced, comprehensive reforms to strengthen institutional independence, transparency, and operational capacity.
It emphasized the critical need to bolster fiscal accountability by improving budget credibility, clearing arrears, and entrenching competitive public procurement practices, reinforce anti-corruption bodies by enhancing their financial and operational autonomy, and minimizing discretionary powers across public sector operations to reduce opportunities for corrupt acts.
The report stressed that lasting improvement hinges on “sustained commitment, strong political will, and broad stakeholder engagement to overcome entrenched interests.”
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