The HIPC fund: The $200 million in funds made available annually through the Highly Indebted Poor Country Initiative (HIPC) are reportedly a source of significant corruption. Senior Minister Mensah (brother-in-law of the president) controls the HIPC funds, and uses these resources to fund the GOG’s patronage network. Deputy Minister of Finance and Economic Planning Akoto Osei recently admitted to reporters that he could not account for 27.6 billion cedis (just over $3 million) of HIPC funds dispersed through his Ministry in 2004, listing the expenditures in his report to Parliament as “other.” Accountability of HIPC funds should improve under the 2006 budget, which increases Finance Ministry control over the funds and improves transparency in their allocation.
Source: GhanaWeb
