Ghana - Joint Review of Public Expenditure and Financial Management

This Chapter discusses Ghana's efforts in 2009 and 2010 to restore macro-economic stability through fiscal consolidation. It underlines that a substantial fiscal adjustment was undertaken, and yielded important results in terms of foreign curr...

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Main Author:	World Bank
Format:	Public Expenditure Review
Language:	English
Published:	World Bank 2012
Subjects:	AGGREGATE DEMAND CONSUMER PRICES DOMESTIC RESOURCE MOBILIZATION EXCHANGE RATE STABILITY EXPENDITURE CONTAINMENT FISCAL CONSOLIDATION FISCAL DECENTRALIZATION FOREIGN CURRENCY RESERVES MACROECONOMIC STABILITY NONPERFORMING LOANS PUBLIC EXPENDITURE AND FINANCIAL MANAGEMENT WAGE BILL
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000386194_20120315001312 http://hdl.handle.net/10986/2833

id	okr-10986-2833
recordtype	oai_dc
spelling	okr-10986-28332021-04-23T14:02:04Z Ghana - Joint Review of Public Expenditure and Financial Management World Bank AGGREGATE DEMAND CONSUMER PRICES DOMESTIC RESOURCE MOBILIZATION EXCHANGE RATE STABILITY EXPENDITURE CONTAINMENT FISCAL CONSOLIDATION FISCAL DECENTRALIZATION FOREIGN CURRENCY RESERVES MACROECONOMIC STABILITY NONPERFORMING LOANS PUBLIC EXPENDITURE AND FINANCIAL MANAGEMENT WAGE BILL This Chapter discusses Ghana's efforts in 2009 and 2010 to restore macro-economic stability through fiscal consolidation. It underlines that a substantial fiscal adjustment was undertaken, and yielded important results in terms of foreign currency reserves position, consumer prices and exchange rate stability. The adjustment mostly took the form of expenditure containment, and had initially a significant impact on overall economic activity through its negative impact on aggregate demand. This effect was compounded by the absence of relay from the private sector, which found it difficult to access credit from a domestic financial sector crippled with non performing loans, the latter originating for a large extent from the continued accumulation of public expenditure arrears. Meanwhile, Ghana improved domestic resource mobilization, though from a low base. This joint review of public expenditure and financial management is an attempt to fill this gap and re-focus attention on public expenditure effectiveness. The review aims at providing a comprehensive picture of public expenditure patterns. It focuses on a set of sectors, such as health and education, as well as on two important cross-cutting issues from a policy perspective, the wage bill and the fiscal decentralization. 2012-03-19T10:14:41Z 2012-03-19T10:14:41Z 2011-10-01 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000386194_20120315001312 http://hdl.handle.net/10986/2833 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank Economic & Sector Work :: Public Expenditure Review Africa West Africa Sub-Saharan Africa Ghana
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	AGGREGATE DEMAND CONSUMER PRICES DOMESTIC RESOURCE MOBILIZATION EXCHANGE RATE STABILITY EXPENDITURE CONTAINMENT FISCAL CONSOLIDATION FISCAL DECENTRALIZATION FOREIGN CURRENCY RESERVES MACROECONOMIC STABILITY NONPERFORMING LOANS PUBLIC EXPENDITURE AND FINANCIAL MANAGEMENT WAGE BILL
spellingShingle	AGGREGATE DEMAND CONSUMER PRICES DOMESTIC RESOURCE MOBILIZATION EXCHANGE RATE STABILITY EXPENDITURE CONTAINMENT FISCAL CONSOLIDATION FISCAL DECENTRALIZATION FOREIGN CURRENCY RESERVES MACROECONOMIC STABILITY NONPERFORMING LOANS PUBLIC EXPENDITURE AND FINANCIAL MANAGEMENT WAGE BILL World Bank Ghana - Joint Review of Public Expenditure and Financial Management
geographic_facet	Africa West Africa Sub-Saharan Africa Ghana
description	This Chapter discusses Ghana's efforts in 2009 and 2010 to restore macro-economic stability through fiscal consolidation. It underlines that a substantial fiscal adjustment was undertaken, and yielded important results in terms of foreign currency reserves position, consumer prices and exchange rate stability. The adjustment mostly took the form of expenditure containment, and had initially a significant impact on overall economic activity through its negative impact on aggregate demand. This effect was compounded by the absence of relay from the private sector, which found it difficult to access credit from a domestic financial sector crippled with non performing loans, the latter originating for a large extent from the continued accumulation of public expenditure arrears. Meanwhile, Ghana improved domestic resource mobilization, though from a low base. This joint review of public expenditure and financial management is an attempt to fill this gap and re-focus attention on public expenditure effectiveness. The review aims at providing a comprehensive picture of public expenditure patterns. It focuses on a set of sectors, such as health and education, as well as on two important cross-cutting issues from a policy perspective, the wage bill and the fiscal decentralization.
format	Economic & Sector Work :: Public Expenditure Review
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Ghana - Joint Review of Public Expenditure and Financial Management
title_short	Ghana - Joint Review of Public Expenditure and Financial Management
title_full	Ghana - Joint Review of Public Expenditure and Financial Management
title_fullStr	Ghana - Joint Review of Public Expenditure and Financial Management
title_full_unstemmed	Ghana - Joint Review of Public Expenditure and Financial Management
title_sort	ghana - joint review of public expenditure and financial management
publisher	World Bank
publishDate	2012
url	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000386194_20120315001312 http://hdl.handle.net/10986/2833
_version_	1764386022734430208

Ghana - Joint Review of Public Expenditure and Financial Management

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