Do We Want IMF Or E-Levy Or Both Or None? - Gabby Otchere-Darko Asks
A Member of the ruling New Patriotic Party (NPP), Gabby Otchere-Darko, has called for a national debate to resolve the current economic challenges.
In a tweet, the founder of Danquah Institute said “govt’s post-COVID recovery GhanaCARES programme hinged partly on an E-levy which Parliament may not even OK” hence “there should be a national debate” on whether “we want IMF or E-levy or both or none”
2022 began without the usual $3bn injection of Eurobond cash. Govt’s post-COVID recovery GhanaCARES programme hinged partly on an E-levy which Parliament may not even OK. There should be a national debate: do we want IMF or E-Levy or both or none? Tough decisions confront Ghana.
Meanwhile, a former Minister of Finance, Prof Kwesi Botchway, says there's the need to bring everyone on board to find lasting solutions to the current economic challenges.
“Inflation is back in the double digits and over 15 per cent. The government is struggling to raise money locally and is accumulating arrears to several programmes – roads, school feeding, Livelihood Empowerment Against Poverty (LEAP) and even salaries.”
“There’s ongoing capital flight and foreign investors have withdrawn close to $200 million in January alone. It is not absolutely the end of the world. Not quite,” he said.
Adding: “it may be necessary to undertake a thorough review of all the rigidities and sources of pressure in the budget, including every flagship programme, its impact and sustainability.”
We must beware of the lure of solutions that would further mortgage the future of young generations such as collateralising public revenue streams. Above all, we must resist solutions that would delay ‘hard decisions’ till after 2024, such as issuing zero-coupon bonds ready to mature in 2025”.
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