No backlog in statutory fund transfers through August or September – Theo Acheampong claims

Finance Ministry Technical Advisor Dr Theo Acheampong says the government has kept statutory fund transfers up to date, with all releases due from January through August or September paid.

The economist and political risk specialist said this marked a change from previous delays, when January releases could arrive as late as September.

Speaking on Joy News’ PM Express Business Edition on Thursday, he cited the District Assemblies Common Fund and the National Health Insurance Fund among the funds receiving transfers.

“For the first time, we remain current on these funds,” he told host George Wiafe.

“You know, from January to August or September of this year, all of those transfers that need to go have gone.”

Dr Acheampong contrasted that position with the pattern in previous years.

“In the past, you would have had to get to September before you get the January releases coming through.”

He presented the transfers as part of broader reforms underpinning Ghana’s economic turnaround. These include changes to taxation, spending controls and efforts to clear inherited arrears.

Responding to a question about feedback from investor meetings, he said investors were asking how Ghana had managed to restore its economic fundamentals so quickly after the 2022–2024 crisis.

He said a recovery of that kind would typically take at least five years. Ghana, he argued, had achieved it in about a year and a half.

Dr Acheampong attributed the gains to reforms beyond favourable commodity performance.

“And it's not just a commodity story. It's not just the gold story. It's really the hard reforms that have been done to try and sustain those gains.”

He said the government was also focusing on spending in the right areas and strengthening controls over commitments.

According to him, investors could see the results in the country’s economic fundamentals and improved capacity to service its debt.

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.