IMF urges govt to publish audit reports from cash waterfall mechanism quarterly

The International Monetary Fund (IMF) has urged the Ghanaian government to enhance transparency in the energy sector by quarterly publishing audit findings of the cash waterfall mechanism.

This directive aims to address challenges in revenue collection and distribution within the sector, ensuring a steady cash flow.

Finance Minister Dr. Amin Adam emphasized the importance of this initiative, highlighting the

Read full articlesignificant financial challenges faced by the energy sector, including a debt burden exceeding one billion dollars owed to independent power producers.

Introduced in July 2017, the cash waterfall mechanism was intended to streamline revenue collection and distribution. However, its effectiveness has been limited, prompting the government to take steps to improve transparency and accountability.

By publishing audit findings, the government aims to provide clarity on fund allocation within the energy sector, fostering greater accountability and trust among stakeholders.