PAC Chair Demands Urgent Probe into GH¢138.91 Billion Public Debt Overstatement

Chairperson of Parliament’s Public Accounts Committee (PAC), Abena Osei-Asare, has described the GH¢138.91 billion overstatement in Ghana’s 2024 public debt as revealed by the Auditor-General as a serious error that demands immediate investigation.

According to the 2024 Audit Report, while the Controller and Accountant-General (CAG) reported Ghana’s total public debt as GH¢876.01 billion, the Ministry of Finance recorded a significantly lower figure of GH¢737.17 billion. This discrepancy exposes an overstatement of GH¢138.91 billion in the Whole of Government Accounts (WGA) submitted by the CAG.

In a Facebook post, Ms. Osei-Asare, who also serves as the Member of Parliament for Atiwa East, stressed that such a substantial misstatement is more than just a clerical error. She said it highlights troubling gaps in internal controls, data consistency, and coordination among key financial management institutions.

“This is no ordinary mistake,” she stated. “The responsibility for preparing the Government of Ghana’s accounts lies solely with the Controller and Accountant-General. A misstatement of this magnitude raises important questions about internal controls, data harmonisation, and institutional coordination within our public financial management framework.”

Citing the Auditor-General’s own recommendations, she emphasized the need for urgent reforms and improved collaboration between the Controller and Accountant-General’s Department, the Ministry of Finance, and other relevant bodies to enhance the accuracy and integrity of national financial reporting.

Ms. Osei-Asare assured that the PAC will launch a thorough probe into the matter, engaging all institutions involved to uncover the root cause of the discrepancy and ensure full implementation of the Auditor-General’s proposed measures.

“This is about protecting the integrity of our public financial systems and rebuilding public trust. We must demand precision — not approximation — in our national accounts,” she stated, reaffirming the Committee’s commitment to accountability, transparency, and value for money in the use of public funds.