Gov’t unveils strategic plan to tackle arrears accumulation …finance minister announces enforcement measures
A new strategic initiative by the government focused primarily on averting the accumulation of arrears, is set to be implemented, with Finance Minister Dr. Mohammed Amin Adam announcing the enforcement of sanctions under the Public Financial Management Act and its regulations. Arrears accumulation, a prevalent issue in numerous emerging and sub-Saharan African economies, has seen a concerning rise in recent years, posing a significant economic policy challenge. In Ghana, arrears represent a substantial portion of public expenditure, necessitating urgent reforms. The government has rightly identified and prioritized addressing this challenge within the framework of the Public Financial Management (PFM) Act,...
