The Public Interest and Accountability Committee (PIAC) has warned that the government is not following the legal rules for limiting the Ghana Stabilisation Fund (GSF), and says this could make it harder for Ghana to handle financial problems in the future.
As per PIAC’s 2025 Half Year Report, the government upheld a US$100 million limit on the Fund in 2025, which contradicts the formula specified in L.I. 2381.
The Committee asserts that a correct implementation of the law would have resulted in US$584.22 million, thereby offering a more robust financial cushion for economic crises.
In spite of the capping concern, the report indicated that Ghana’s petroleum savings continued to show improvement.
The Heritage Fund increased by 18.1 percent to US$1.3 billion, whereas the Stabilisation Fund decreased by 36.9 percent to US$122.91 million, primarily due to withdrawals. Together, the two funds experienced a 9.8 percent rise in total reserves, reaching US$1.42 billion in the first half of 2025.
The Petroleum Holding Fund also concluded the period with a balance of US$94.06 million, which includes corporate income tax, interest, and a mandatory reserve.
