IMF-backed reforms must tackle Ghana's long-running energy crisis - Prof. Bokpin warns
Professor Godfred Bokpin, an economist and Professor of Finance, called for greater transparency, broader consultation, and a clearly defined role for private-sector participation in Ghana's electricity distribution sector on Saturday, speaking on JoyNews' Newsfile. He warned that persistent weaknesses within the energy sector continue to pose a significant threat to the country's fiscal stability.
Prof. Bokpin stated that many problems confronting the Electricity Company of Ghana (ECG), including high distribution losses, weak revenue collection, outstanding obligations to power producers, and the financial burden placed on the state, pre-date Ghana's current IMF-supported programme. He acknowledged that the IMF programme has contributed to greater transparency in energy sector management and improved the operation of mechanisms for distributing available revenues across the electricity value chain. Prof. Bokpin said, "The issues that have been identified as the root causes have been with us for years, for decades, even before this IMF-supported programme." He also noted that an important benefit of the IMF-supported reforms has been improved transparency regarding the scale of Ghana's energy-sector liabilities and losses.
Quick Summary
Professor Godfred Bokpin has urged Ghana to leverage IMF-backed reforms to address its persistent energy crisis, emphasizing transparency and
Summary - read the full story for complete context.
Image: MyJoyOnline
GhanaFront aggregates news from trusted sources. Click to read the original article.
Keywords
Explore related tagsMore from MyJoyOnline
Related Stories
More from Business & Economy
ECG inefficiencies could send Ghana back to IMF - Prof Bokpin
Could Ghana's economic stability be at risk due to long-standing issues within its state-owned enterprises?
2h ago•3 min read
Ghana: Genser energy buys back Oppenheimer partners' stake as investor exits after five years
Discover how Genser Energy's latest corporate maneuver with Oppenheimer Partners is poised to reshape its regional ambitions.
23h ago•2 min read
IMF warns Ghana's financing needs to exceed 16% of GDP by 2028
Ghana's economic outlook is under scrutiny as the IMF highlights potential financial pressures that could impact the country's stability.
23h ago•2 min read
Illegal mining is threatening Ghana's food security, not just environment - Ghanaian Farmer CEO
Ghana's food security faces an unprecedented threat as illegal mining continues to devastate agricultural lands, prompting calls for urgent policy
1d ago•3 min read
