Akufo-Addo Goes To IMF Due To E-Levy’s Apparent Failure [Read details]
Government of the Republic of Ghana, through Ministry of Information, has announced its decision to resort to International Monetary Fund (IMF) for support.
According to the Ministry’s statement, the President, “Nana Addo Dankwa Akufo-Addo has authorized Finance Minister, Ken Ofori-Atta to commence formal engagements with the International Monetary Fund, inviting the fund to support an economic program put together by Government of Ghana.”
The statement revealed that, the President of Ghana had a telephone conversation with the Managing Director of IMF, Miss Kristalina Georgieva, “conveying Ghana’s decision to engage with the Fund.”
Ministry of Information through its Minister, Hon. Kojo Oppong Nkrumah has revealed that “cabinet indicated its support for the decision” to go to IMF.
“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 Russian-Ukraine crises,” the statement added.
On July 1, 2022, the Ministry of Finance through Ghana Revenue Authority (GRA) rolled out the full implementation of electronic transfer tax, popularly known as E-Levy despite its failure to meet the estimated income within the stipulated time of the partial roll out.
SOURCE: MyAfro Ghana