The International Monetary Fund (IMF) resident representative for Liberia, Dr. Charles Amo-Yartey, on Thursday the 27th of November, 2014, gave a talk on “Fiscal Policy Rules and Fiscal Management in Ghana”. His presentation was part of a three-day seminar series organised by the UGBS Seminar Series in collaboration with the Development Policy Seminar with support from the United Nations Development Programme (UNDP).
Dr. Amo-Yartey gave a detailed account of Ghana’s fiscal performance. He explained that weak fiscal governance could derail the nation’s ability to achieve high middle income status and stressed the need for an effective fiscal rule to improve fiscal performance and enhance transparency.
Furthermore, he emphasised the importance of periodic reviews of numerical targets and economic assumptions and the need for mechanisms to encourage compliance with annual fiscal targets.
In speaking further about fiscal policies, Dr. Amo-Yartey stated that in order for same to work, supporting institutions reforms are required. He made mention of a sanction regime and a non-partisan fiscal policy council which would evaluate fiscal policy, monitor fiscal performance, and/or advise policymakers on policy options and could additionally monitor compliance with fiscal rules.
The presentation, which was held at the ICT lounge of the UGBS graduate building complex, was attended by members of faculty and PhD and MSc Development Finance students.
The Dean of the UGBS, Prof. Joshua Y. Abor, who also chaired the event, expressed his gratitude to the speaker and all who attended the event.
Present at the presentation were Dr. Simon K. Harvey, Coordinator of the MSc Development Finance programme, and Dr. Kwasi Dartey-Baah, UGBS Seminar Series Coordinator.