The United States Department of State has released its 2025 Fiscal Transparency Report, a Congressionally mandated designed to evaluate the fiscal transparency of governments worldwide. This report assesses whether governments meet minimum requirements of fiscal transparency, including public disclosure of national budget documentation and criteria for natural resources extraction, contracting and licensing procedures.
The report finds that 71 governments met the minimum fiscal transparency requirements, including Ghana among others. On the other hand, 68 governments including Nigeria did not meet the requirements, with 26 making significant progress toward meeting them.
The assessment criteria include public availablity of budget documents, transparency in natural resources extraction, contracting and licensing procedures, and supreme audit institution independence and access to audit government annual financial statements.
The Fiscal Transparency Report aims to strengthen public financial management to reduce corruption and unfair practices, advance industry standards for extractive industries, reduce financial crimes like money laundering and terrorist financing, and foster business-enabling environments and promote international macroeconomic stability.
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