IMANI’s Bright Simons: Hold State Institutions Accountable—Efficiency and Cost Matter!
Source: Joyonline
Mr. Bright Simons, who is the Honorary Vice President of IMANI-Africa, has said that government institutions should be held to a higher standard when it comes to their costs, efficiency, and long-term viability. He believes that being policy-driven or non-profit should not protect them from being held accountable. On January 3, he talked about GoldBod, the Bank of Ghana, and gold market interventions on JoyNews’ Newsfile. He said that these debates are part of a bigger problem in the country where people think that all state institutions are efficient. Mr. Simons used COCOBOD as an example to show that even though it is not a business, its losses are closely watched because they affect the cocoa sector. He also said that its recent losses are lower than those of some other policy interventions. He said that the same strict rules that apply to COCOBOD should also apply to businesses that trade gold and work in other areas. He warned that policies that are good can still become bad if problems are not fixed. He used fuel subsidies as an example to show that while these kinds of policies protect people and businesses, they also make costs too high for governments to keep up with. He urged policymakers to find a balance between developmental goals and efficiency, transparency, and fiscal discipline to ensure long-term economic stability.
