Ghana’s energy sector accumulated arrears is projected to hit $12.5 billion by the year 2023 if the current fiscal risk from the sector remains unchecked.
This project was made by the International Monetary Fund (IMF) following conclusion of the 2019 Article IV Consultation with Ghana.
According to the IMF in absence of measures to address the energy sector financial problems, the accumulated cost to the government, including current arrears could reach $12.5 billion by 2023, driven by a power sector structural deficit coupled with costly contracts which are set to become effective in 2020.
The constant evaluations of the Ghanaian economy by the Bretton Woods Institutions have some of the hawks in the ruling New Patriotic Party (NPP) including Member of Parliament for Assin Central in the Central Region Kenneth Agyapong heavily criticising the institutions.
The IMF is being accused of wanting President Nana Addo Dankwa Akufo Addo’s government to lose the 2020 elections.
DAP/as/APA