Monday, October 14, 2019

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Article Index

B. Ghana

In April 2011, the Ghanaian Parliament passed the Petroleum Revenue Management Act, 2011 (Act 815), which provides a legal framework for the collection, allocation, and management of petroleum revenue. The law establishes a Petroleum Holding Fund to receive and disburse petroleum revenue. It also establishes two other funds: the Ghana Stabilization Fund and the Ghana Heritage Fund. The objective of the former is to cushion the impact on or sustain public expenditure capacity during periods of unanticipated revenue shortfalls. The Ghana Heritage Fund was created to provide an endowment to support development for future generations when petroleum resources are depleted.

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