2 platforms launched to provide information on public debt
Two online platforms aimed at providing citizens with data on Ghana’s public debt for greater fiscal transparency and accountability have been launched in Accra.
The “International Monetary Fund (IMF) Bailout Dashboard” and the “Public Debt Tracker” are both to allow for citizens to actively participate in governance providing them with simplified, user-friendly and timely updates on Ghana’s public debt management processes.
It is an initiative of the Economic Governance Platform (EGP), a coalition of civil society organisations focused on ensuring the efficient and effective use of public resources to grow Ghana’s economy.
Mary Awelana Addah, the Executive Director, Ghana Integrity Initiative (GII), launching the platform, said the platforms were important to provide citizens with real time data on Ghana’s fiscal governance.
Data on the platforms, she said, would help advocate better fiscal downturns, better Public Financial Management (PFM) regimes, and better debt sustainability for Ghana.
“As journalists you can have more information to do your reporting, as citizens we can also have more information to advocate and track the progress of the IMF’s implementation, and our debts.
These tools mark a significant step towards promoting fiscal transparency and accountability and we must all embrace and support it,” Ms Addah said.
The Coordinator of EGP, Abdul Karim Mohammed, said Ghana’s rising debts continued to be an underlying factor for economic crises, often resulting to IMF bailouts.
He said, while the citizenry needed to be empowered to follow the nation’s financial trajectory, discussions were often too technical leaving them with little choice to be able to hold leadership accountable.
“If you look at the conversation around debt, it tends to be very technical, at a very high level, and it is not broken down to the level that ordinary citizens and people can understand.”
With this platform, we are breaking down the information into easily understandable components. You will have an idea of the total national debt; which component is domestic and which is external for comprehensive understanding,” Mr Mohammed said.
Dr Angela Azumah Alu, the Country Director of Oxfam in Ghana, expressed concern that the most vulnerable populations were disproportionately affected by Ghana’s unsustainable debt challenges.
She expressed hope that the new tools would help demystify the IMF process and Ghana’s debt situation, enabling citizens to hold leaders accountable for their actions.
BY ABIGAIL ANNOH
