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Akufo-Addo Has Authorized Ken Ofori-Atta To Begin Negotiations With IMF Despite The E-Levy Taxes

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.

Background

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 )

Akufo-Addo Fund IMF Ken Ofori-Atta Kristalina Georgieva

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