Multi-Faith Network leaders call for transparency in IMF bailout funds utilisation 

A Coalition of Multi-Faith Network leaders, has called for equity, inclusion, transparency, and good governance on the utilisation of the International Monetary Fund (IMF) bailout funds for Ghana. 

The Coalition in a Communique read by Hajia Ayishetu Abdul-Kadiri, the Chairperson, Faith in Ghana Alliance, reiterated the importance of transparency, accountability and good governance in managing and utilising funds received through the IMF bailout.  

The Communique, which was issued in Accra, at the end of an advocacy workshop for Faith-Based Institutions (FBIs), News Editors and Reporters said the resources’ responsible and ethical use would foster trust and confidence in the government’s commitment to inclusive economic recovery. 

The workshop, organised by Caritas Ghana in collaboration with Caritas Africa and Jubilee USA Network was on the theme: “The Role of FBIs and the Media in Securing an Inclusive Economic Recovery and Debt Relief.” 

The objective of the workshop was to foster collaboration and networking among FBIs and media organisations to share best practices, experiences and lessons learned to develop a common strategy for addressing economic recovery and debt relief. 

The Communique said Ghana’s IMF bailout should serve as an opportunity to address immediate economic challenges and build a more inclusive and sustainable future for all Ghanaians.  

“As representatives of diverse faith communities, we offer our support and partnership to the government and all stakeholders in this critical endeavor,” it said. 

“Let us work together to ensure no one is left behind in our journey towards economic recovery and social justice.” 

The Communique recognised the difficult decision the Ghanaian government made to seek assistance from the IMF to address the economic challenges faced by the country.  

“While this choice was necessary to stabilise our economy and foster sustainable development, we urge all stakeholders to prioritize inclusive measures that hold true to Ghana’s values of unity, fairness, and respect for all citizens.” 

It said inclusive economic recovery demands that the burden of adjustment was not disproportionately placed on the most vulnerable members of our society.  

It implored the government and all relevant authorities to ensure that socio-economic policies and programmes were designed with fairness and equity.  

The Communique said their moral duty was to protect the most marginalised and provide them with opportunities to thrive, as their welfare reflects their collective commitment to social justice. 

It called on the government and all stakeholders to foster an environment conducive to sustainable and inclusive growth.  

It noted that only through such measures could they build a resilient and diversified economy that benefits all Ghanaians, regardless of their religious beliefs, ethnicity, or socio-economic backgrounds. 

Additionally, it encouraged the government to seek dialogue and collaboration with civil society organisations, religious institutions, and community leaders.  

It said these diverse voices possess invaluable insights and could contribute to shaping policies and strategies that promote inclusive economic recovery.  

“We can forge a path towards a more just and prosperous Ghana through open and inclusive dialogue,” it said. 

The IMF Executive Board approved, on May 17th, $3 billion 36-month Extended Credit Facility arrangement for Ghana.  

This decision enabled an immediate disbursement equivalent to $600 million, and the rest is expected to be disbursed in tranches every six months, following programme reviews approved by the IMF Executive Board. 

Caritas Ghana is a charity organization of the Ghana Catholic Bishops’ Conference (GCBC) and operates under the National Catholic Secretariat, the implementing Arm of the Bishops’ Conference established in 1960.  

Members of the Coalition of Multi-Faith Network include Caritas Ghana, Marshallen Relief and Development Services, Ghana Catholic Bishops’ Conference (GCBC), Federation of Muslim Women Association in Ghana, Ghana Pentecostal and Charismatic Council, Christian Council of Ghana, the Office of the National Chief Imam, and the Ahmadiyya Muslim Mission Ghana. 

Source: GNA 

1 Comment
  1. John says

    Why call for such singular transparency? The call creates the impression as if government does whatever it likes and is not accountable to anyone. Government’s fiscal plan for the year, including any midstream initiatives and reviews, such as the IMF Bailout are tabled and approved by Parliament and appropriations equally returned to the House. Such calls only add to undermine the publics’ confidence in our governance system and not helpful to nation building

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