Public Sector Finance

1) National Institutional Renewable Program:

SEM participated in a World Bank sponsored project on the development of a regulatory framework for public sector institutions in Ghana. Working with the International Management Advisory Group of Canada, we carried out a diagnostic review of the budget management system and identified the regulatory requirements for a result-based budget management system.

2) National Salary Survey:

In March 2002, SEM was commissioned by the National Institutional Renewal Program to undertake a salary survey of selected institutions in both the private and public sectors to enable the Government of Ghana establish compensation comparability of the two sectors. The consultancy provided a comprehensive report on the compensation package comparisons for public and private sector positions, approaches for the monetization of benefits for senior public sector employees and alternative strategies for achieving the public sector salary objectives.

3) Bank of Ghana - Government of Ghana Index-Linked Bond:

SEM led a team of international and local advisers to restructure the government’s domestic debt. The project involved the structuring of an appropriate instrument to enable the Government of Ghana to convert up to 50% of the domestic debt stock to medium-term debt. Related work involved the development of primary market auction rules and procedures, back-office procedures, development of secondary market trading arrangements and the training of market participants.