So, Ghana Has lost GHC 50 Billion To Financial Irregularities Between 2017 And 2021

The Member of Parliament (MP) for North Tongu, Samuel Okudzeto Ablakwa, has alleged that Ghana lost over GH¢50 billion to financial infractions by Ministries, Departments and Agencies (MDAs) between 2017 and 2021.

samuel Okudzeto ablakwa

According to the MP (Member of Parliament), this GH¢50 billion loss to corruption, contained in the yet-to-be-released 2021 Auditor General’s report, is mind-blowing, given that the country is now seeking an International Monetary Fund (IMF) bailout for an amount way lesser than that.

“According to Ghana’s Auditor-General, between 2017 and 2021, financial irregularities have cumulatively cost Ghana some GH¢50 billion.

“Instructively, our government is chasing the IMF for a $2-3 billion bailout which is less than half of the GHS50billion lost to irregularities,” parts of a tweet shared by the MP on July 12, 2022, read.

In an earlier tweet, the MP asserted that financial infractions by MDAs have increased from the GH¢ 12.8 billion recorded in 2020 to over GH¢ 17 billion in 2021.

He said that the increase in financial infractions shows that, the government going to the IMF for a bailout will not resolve the main challenge of the country – corruption.

Read the MP’s tweet plus excerpts of the purported 2021 Auditor-Generals report below:


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