IMF Calls for Merit-Based SOE Board Appointments in Ghana

The International Monetary Fund urged the Ghanaian government to appoint the boards of state‑owned enterprises (SOEs) solely on merit, citing the loss‑making status of many SOEs and the growing fiscal pressure from their liabilities. The Fund also recommended that SOEs submit audited financial statements promptly and that Ghana conduct a strategic review of its SOE portfolio to focus oversight on entities of strategic national importance.

In addition, the IMF highlighted weaknesses in tax administration, calling for stronger compliance measures by the Ghana Revenue Authority, and urged the expansion and full utilisation of the Ghana Integrated Financial Management Information System (GIFMIS) and the Ghana Electronic Procurement System (GHANEPS). It also recommended enforcing competitive procurement, achieving full visibility over government accounts through an effective Treasury Single Account, and reinforcing public investment appraisal and management as capital spending rises.