IMF or E-levy?

IMF or E-Levy ?

President Nana Addo Dankwa Akufo-Addo is chairing a crunch Cabinet retreat at the Peduase lodge over the growing depreciation of the cedi and the recent increments in fuel prices.

The meeting which ends on Sunday, March 20, 2022, will seek to find solutions to the raging economic challenges in Ghana.

The meeting will also be attended by all the 137 NPP MPs, government appointees as well as the leadership of the NPP.

In a Joy News report monitored by GhanaWeb, a source at the Jubilee House stated that the crunch Cabinet retreat will discuss whether the government should continue to push through with the E-Levy Bill or resought to the International Monetary Fund (IMF), in the face of the current fiscal hurdles.

Earlier on Thursday, March 17, 2022, Gabby Asare Otchere-Darko, a leading member of the governing party in a tweet hinted that there’s the need for a ‘national debate’ on the way forward given the current deadlock on the controversial E-Levy Bill.

“2022 began without the usual $3 billion injections of Eurobond cash. Govt’s post-COVID recovery Ghana CARES programme hinged partly on an E-Levy which Parliament may not even pass.

“There should be a national debate: do we want IMF or E-Levy or both or none? Tough decisions confront Ghana”, he tweeted.

Meanwhile, President Akufo-Addo made several attempts to help Ghanaians understand that there are hard times, and impressed upon citizens the need to generate revenue internally as opposed to external funding.

Financial Analysts agree going to the IMF could be a disaster for Ghana, because of the terms, which place strict rules on the public sector.

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