The International Monetary fund says it is working towards improving the quality of Data it uses for its Policy Prescriptions.
In recent times, the fund has received sharp criticism from Ghanaians for allegedly employing double standards in their assessment of economic performance.
But as Head of JOYBUSINESS Kojo Oppong-Nkrumah reports from Washington, fund officials are promising better data to improve the quality of policy prescriptions.
The fund typically relies on data provided by governments for its analysis and prescriptions. Therefore if a government wants its budgets to look balanced and good, it can be very crafty in how it records its incomes and expenses.
According to Prakash Lougani, a research advisor at the IMF, this is why the fund at one time can say this government is excellent and next time when contractors and other off budget expenditure holders begin to present their certificates for payment, the fund turns around to report that things weren’t that good after all.