Finance Minister to establish compliance desk to enforce new PFM Act

The Minister for Finance, Dr. Cassiel Ato Forson, announced a new Compliance Desk. This desk will monitor adherence to the upgraded Public Financial Management (PFM) Act, 2025.

He made this announcement during a meeting with the World Bank Africa team. The team was led by Vice President Ousmane Diagana. This meeting followed the successful National Economic Dialogue supported by the World Bank.

Dr. Forson emphasized the need to address fiscal indiscipline. He noted that some entities award contracts without required commencement certificates. These practices have caused inefficiencies and budget shortfalls.

To address these issues, an amendment to the PFM Act has been made. It now allows the Ministry of Finance to issue commencement authorizations. This marks a significant change in fiscal oversight.

The Compliance Desk will track compliance with the new law. It will evaluate ministries and departments on their adherence to regulations. Additionally, it will maintain a Compliance League Table ranking institutions publicly.

The Minister warned that persistent non-compliance will lead to sanctions. He reaffirmed the government's commitment to transparency and accountability in public finance.

“We aim for every program we implement to be efficient,” he stated. “This is how we build a disciplined and prosperous Ghana.”

Vice President Diagana congratulated Dr. Forson on his nomination. He praised Ghana’s ongoing fiscal reforms as well. Diagana described Ghana as a beacon of stability and progress in the region.

The new Compliance Desk is expected to start operations soon.