The Government must seal the loopholes. GHS50billion lost According to Auditors Report.

Ghana is In a state of financial financial crisis. This has necessitated the country to seek for an IMF bailout. I will share with you portions of the Auditors General reports which shows that Ghana has lost more than 50 billion Ghana Cedis due to financial irregularities in a period of four years.

According to Ghana’s Auditor-General report between 2017 and 2021, financial irregularities have cumulatively cost Ghana some GHS50billion. It is quite worrying when the government looses such an amount of money to financial irregularities but be chasing the IMF for a 2-3 billion dollars bailout. However, the money Ghana is seeking for is less than half of the GHS50billion lost to irregularities.

In my opinion, the government should pay more attention to the financial system of the private sector. This will help reduce the irregularities. Also, strict punishments should be put in place against people who misappropriate public funds.

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