PAC flags GH¢139bn discrepancy in public debt figures
By: Rebecca Okine
The Chairperson of the Public Accounts Committee (PAC), Abena Osei-Asare, has called for an immediate investigation into a reported GHS138.91 billion overstatement in Ghana’s public debt, as revealed in the 2024 Audit Report by the Auditor-General.
According to the report, the Controller and Accountant-General’s Department (CAGD) recorded Ghana’s total public debt at GHS876.01 billion, while the Ministry of Finance reported GHS737.17 billion, showing a significant discrepancy of nearly GHS139 billion in the Whole of Government Accounts (WGA).
Describing the development as “no ordinary mistake,” in a social media post on July 23, 2025, the PAC Chairperson and Member of Parliament for Atiwa East said this glaring misstatement raises serious questions about internal controls and institutional coordination.
“The responsibility for preparing the Government of Ghana accounts lies solely with the Controller and Accountant-General. A misstatement of this magnitude therefore raises important questions about internal controls, data harmonization, and institutional coordination within our public financial management framework,” she wrote on Facebook.
Ms. Osei-Asare emphasized that this was not just a clerical error but a serious lapse that could erode public trust in national financial reporting. Quoting from the Auditor-General’s recommendations, she stressed the need for stronger cooperation between the Controller and Accountant-General’s Department, the Ministry of Finance, and other relevant bodies to improve accuracy and transparency in fiscal reporting.
She further assured that the Public Accounts Committee will thoroughly investigate the discrepancy.
“The Committee will engage the institutions involved to understand the root cause of the overstatement and ensure full implementation of the Auditor-General’s recommendations,” she stated.
According to her, the issue goes beyond technical accounting, it strikes at the heart of public accountability and confidence in governance.
“This is about protecting the integrity of our public financial systems and rebuilding public confidence in the institutions that manage our resources. As public servants, we must demand precision not approximation, especially when it comes to the national accounts,” she stressed.
Ms. Osei-Asare reaffirmed PAC’s commitment to its constitutional duty of ensuring accountability, transparency, and value for money in the use of public resources.
