The IMF has approved of ECG’s operations being liberalized.

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

The International Monetary Fund (IMF) has endorsed the liberalisation of the operations of the Electricity Company of Ghana (ECG), the State-owned electricity distributor, for private sector participation.

The Fund is of the view that private sector participation would attract the much-needed investment and technical expertise to address legacy debts, making the energy sector financially sustainable.

This was in the IMF July country report on the fourth review of Ghana’s US$3 billion three-year Extended Credit Facility (ECF) arrangement, which identified the energy sector as a major source of fiscal risk. 

Source: newsthemegh.com