IERPP demands accountability on $4bn 24-Hour Economy spending

The Institute of Economic Research and Public Policy (IERPP) has called on President John Mahama’s administration to provide a detailed account of the $4 billion 24-Hour Economy programme. Executive Director Professor Isaac Boadi stated that transparency regarding previous expenditures is a prerequisite for launching the government’s proposed $10 billion New Economy initiative. This demand comes amid concerns over the lack of verifiable data on job creation and project implementation since the policy’s inception.

Professor Boadi highlighted that while the 24-Hour Economy policy was a central pillar of the administration’s agenda, the public remains uninformed about the specific outcomes of the $4 billion already allocated. He pointed out the absence of concrete figures regarding how many jobs were actually created and which specific sectors or projects received funding. The IERPP emphasized that without a clear reconciliation of budget discrepancies, the government risks undermining public trust in future large-scale economic interventions.

To address these gaps, the institute is advocating for the establishment of a public dashboard to track the progress and financial performance of national initiatives in real-time. Prof. Boadi argued that such a tool would provide the necessary evidence to justify the transition to the more ambitious $10 billion New Economy project. He maintained that robust accountability mechanisms are essential for ensuring that public funds are used efficiently and that economic promises translate into tangible benefits for the Ghanaian people.