Sat, 25 Feb 2023 Feature Article

It will be tragic for Ghana if the IMF fails to wring vital anti-corruption reforms out of our hard-of-hearing ruling-elites

It will be tragic for Ghana if the IMF fails to wring vital anti-corruption reforms out of our hard-of-hearing ruling-elites
25 FEB 2023 LISTEN

Ghana has the potential to become one of the wealthiest societies on the surface of the planet Earth. Yet, she is currently debt-distressed - and unable to meet interest payments on her massive debt mountain.

As we speak, Ghana has reached a staff-level agreement with the International Monetary Fund (IMF), for a bailout amounting to US$3 billion - contingent upon debt forgivance arranged for it by the Paris Club group of nations.

If the dominant-elements amongst Ghana's ruling-elites were honest, principled and dedicated to providing generational-levelling-up opportunities to empower base-of-the-pyramid demographics, as well as abhorrent of high-level corruption, Ghana wouldn't have come to the sorry pass she is now in.

In light of the above defect in the character of the dominate elements amongst Ghana's ruling elites, before extending any help to Ghana, the IMF, China and all her other foreign creditors, must demand the following reforms designed to end egregious high-level grand-larceny:

1) Passage of legislation by Parliament giving the Auditor General prosecutorial powers.

2) Passage of new legislation making it mandatory for all high-level public sector appointees (and their spouses) to publicly publish their assets before assumption of office, and immediately after their tenures end.

3) Passage of new legislation banning mining in all Ghana's forest reserves and cancelling all issued exploratory gold mining licenses in forest reserves.

4) Passage of new legislation to end statutory-requirement of payments by media houses of monetary fees to sector regulatory bodies, because it impedes freedom of expression in Ghana, and is often used to muzzle anti-regime media entities and media professionals, by corrupt elements in Ghana.

5) Passing new legislation to end sole-sourcing in public procurement to make it a clear-cut-illegality in public administration and nation-building.

6) Passage of new legislation indemnifying whistleblowers, whose revelations, and exposure, of nation-wrecking-corruption, results in prosecutions and recovery of stolen public funds.

Ghana is being destroyed by its greed-filled and hard-of-hearing ruling elites, whose impunity needs to end, if the nation is to prosper. In short, without the above-mentioned reforms being carried out urgently, Ghana's creditors must let her stew in her own juice.

There is no question that high-level is impoverishing Ghana. Demanding an end to high-level corruption is the best way Ghana's creditors can help save her from ruination. It will be tragic for Ghana if the IMF and her other creditors fail to wring vital anti-corruption reforms out of our greed-filled and hard-of-hearing ruling-elites. Enough is enough. Full stop. Case closed.