The Economic Governance Platform (EGP), hosted by the Ghana Anti-Corruption Coalition, has launched two online tools—the Public Debt Tracker and the IMF Bailout Dashboard—to enhance transparency and accountability in Ghana’s debt management.
This tool offers real-time updates on Ghana’s public debt, detailing its composition and key economic indicators.
It tracks debt servicing costs, and interest payments over time, and provides a historical timeline of Ghana’s financial crises, highlighting instances of bankruptcy and efforts toward debt sustainability.
Focusing on Ghana’s 17th IMF programme, this dashboard provides insights into its implementation and impact. It outlines the conditions set by the IMF, including fiscal consolidation, debt restructuring, public financial management reforms, and utility tariff adjustments.
The dashboard also offers performance indicators such as inflation rates, international reserves, and GDP growth, enabling users to monitor Ghana’s progress in meeting IMF targets.
The key features of the platforms are designed to significantly improve public engagement and transparency in Ghana’s financial management. The simplified data access feature enables the public to easily understand complex financial information, breaking down intricate economic data into digestible formats.
This initiative aims to foster informed discussions among citizens about public debt and fiscal policies, ensuring that financial matters are no longer reserved for experts alone but are accessible to all.
The enhanced transparency feature further strengthens this goal by providing real-time updates on Ghana’s public debt and IMF programs. These tools empower citizens to actively monitor government spending and financial decisions, making it easier for them to hold policymakers accountable.
By offering this level of accessibility, the platforms not only promote greater participation in economic discourse but also serve as critical instruments for encouraging fiscal responsibility and demanding more transparency from the government.
Speaking at the launch in Accra, Abdulkarim Mohammed, Coordinator of the Economic Governance Platform, emphasized the importance of simplifying economic data for public understanding, stating, “Financial management issues often seem like they are meant for only a few people, but if we want a strong democracy where citizens take part in national discussions, we must break down complicated economic information so that everyone can follow.”
Dr. Angela Azumah Alu, Fiscal Policy Advisor at Oxfam Ghana, praised the initiative, describing it as a crucial step toward transparency in Ghana’s financial management.
She stated, “This initiative aligns with our commitment to fairness and economic justice. The people who suffer the most from Ghana’s debt problems deserve honest leadership and clear information about how the country’s money is managed.
The Executive Director of the Ghana Integrity Initiative (GII), Mary Awelana Addah, commended the EGP’s efforts in promoting fiscal transparency, noting the platform’s credibility and its role in enhancing public participation in financial matters.
The launch of the Public Debt Tracker and IMF Bailout Dashboard represents a significant advancement in fiscal transparency in Ghana. These platforms provide citizens with the tools to actively engage in discussions about the nation’s economic policies and hold leaders accountable for financial decisions.
Source: Isaac Kofi Dzokpo/newsghana.com.gh
