Finance Ministry, subsidiaries tops list
Ghana lost GH¢13.94 billion due to financial irregularities – Report
Some five ministries, departments and agencies (MDAs) have been ranked as the most fiscally reckless institutions in the country within the last six years from 2015 to 2020.
This comes after a 2020 Fiscal Recklessness Index was conducted and compiled by policy think tank, IMANI Ghana.
Presenting the findings of the Index on May 31, Research Consultant at IMANI Ghana, Dennis Asare said the Ministry of Finance and its subsidiary agencies topped the listed as the most fiscally reckless MDAs on an annual basis.
The Finance Ministry, according to the Index is said to be responsible for 99.63 percent (GH¢9.10 billion) of the combined GH¢9.12 billion tax irregularities from 2015 to 2020.
It also accounted for 80.10 percent (GH¢2.35 billion) of the combined GH¢2.93 billion cash irregularities from 2015 to 2020.
In addition, the Index discovered this trend remains the same on a normalised data basis.
However, the rankings placed the Ministry of Health in second place, the Ministry of Roads and Highways in third, the Ministry of Employment and Labour in fourth place, and finally the Ministry of Foreign Affairs which were all ranked as the five most reckless MDAs for the period.
On an overall basis, the Index discovered Ghana recorded a loss of GH¢13.94 billion due to financial irregularities by the various MDAs within the period from 2015 to 2020.
The IMANI 2020 Fiscal Recklessness Index analysed the Auditor General’s Reports from 2015 to 2020 which covered procurement, cash, tax, payroll, rent, and contract irregularities during the period.
