The Ministry of Information has released a statement to convey that the President of Ghana has given the greenlight to the Financial minister to begin negotiation with IMF despite the ongoing COVID-19 taxes.
A statement released on 1st July 2022, reads;
"The President of the Republic, Nana Addo Dankwa Akufo-Addo, has authorized Finance Minister Ken Ofori-Atta to commence formal engagements with the International Monetary Fund (IMF), inviting the Fund to support an economic program put together by the Government of Ghana."
The authorization follows a telephone conversation between the President and the IMF Managing Director, Miss Kristalina Georgieva, conveying Ghana's decision to engage with the Fund. At a meeting on June 30th, 2022, cabinet indicated its support for the decision.
According to the statement, the engagement with the IMF will seek to provide balance of payment support as part of a broader effort to quicken Ghana's build back in the face of challenges induced by the Covid-19 pandemic and, recently, the Russia-Ukraine crises.
Some Ghanaians fought and the government not to implement E-Levy but rather go to IMF. The government at the time said that IMF is not an option because it will restrict employment and several sectors of the economy. Following the government explanation E-Levy was implemented.
According to government, the E-Levy revenue has fall short of the target hence the need to go to IMF.
Content created and supplied by: Currentworldnews (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More