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The Public Interest and Accountability Committee (PIAC) has expressed concern over the government’s continued breach of the legal capping formula for the Ghana Stabilisation Fund (GSF). According to PIAC’s 2025 Half-Year Report, the government maintained a $100 million cap on the Fund, contrary to the formula outlined in L.I. 2381. A proper application of the law would have yielded $584.22 million, which would have provided a stronger financial buffer for economic emergencies.
This breach may undermine Ghana’s ability to withstand future fiscal shocks. Despite the capping issue, Ghana’s petroleum savings continued to improve. Notably, the Heritage Fund grew by 18.1 percent to $1.3 billion. In contrast, the Stabilisation Fund fell by 36.9 percent to $122.91 million, mainly due to withdrawals.
The combined reserves of the two funds recorded a 9.8 percent increase in total reserves, rising to $1.42 billion in the first half of 2025. Additionally, the Petroleum Holding Fund closed the period with a balance of $94.06 million, comprising corporate income tax, interest, and a mandatory reserve. The report highlights the need for the government to adhere to the legal framework to ensure the stability of the funds.
epos MBN360 news
