The Government of Ghana has a plan to reduce spending and avoid accumulating arrears, the International Monetary Fund (IMF) reports.
The Fund says that Ghana will link its public procurement system with its financial management system (GIFMIS) to make sure that only projects with approved budgets and quarterly allocations can get procurement approvals to award contracts.
The Fund also says that Ghana will enforce the Public Financial Management Act more strictly, including imposing penalties for entities that spend more than their allotments and allocations. Moreover, Ghana will connect its human resources system (HRMIS), its bank clearing system (GHIPSS), and its tax portals with GIFMIS.
