ECG inefficiencies could send Ghana back to IMF - Prof Bokpin
Prof Bokpin, an economist and Professor of Finance, warned on Saturday on JoyNews' Newsfile that persistent inefficiencies in the Electricity Company of Ghana (ECG) and other state-owned enterprises could push Ghana back to the International Monetary Fund (IMF) for another financial intervention. He stated, "So if we go back to business as usual, it is just a matter of time and we have to resort to the IMF and the World Bank for another level of intervention."
He said Ghana has lost between 2.5% and 3.2% of its Gross Domestic Product (GDP) over the past 15 to 20 years due to inefficiencies in state-owned enterprises, including ECG and the Ghana Cocoa Board (COCOBOD). Prof Bokpin noted that the energy sector places significant pressure on Ghana's fiscal space, with extra-budgetary allocations to cover sector shortfalls sometimes exceeding the combined budgetary allocations of the Ministries of Health, Food and Agriculture, and Education.
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Professor of Finance, Prof Bokpin, has issued a stern warning regarding the persistent inefficiencies within the Electricity Company of Ghana (ECG)
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