Ghanaian President Nana Addo Dankwa Akuffo Addo has instructed Economy Minister Ken Ofori Atta to start talks with the International Monetary Fund (IMF) to save the country from a recession.
Ghana has taken steps to amend Elevy’s mobile tax law to generate more revenue, which the government hopes will make the country more self-reliant instead of seeking foreign aid, but the move has not yielded positive results.
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“Ten per cent of the expected revenue from the E levy tax has failed, so the IMF is the solution,” said Garbi Ochere Darko, one of the leaders of the ruling NPP.
Following the announcement, the NDC, the main opposition party, said the consultation with the IMF confirmed there was no doubt that Nana Addo’s government had failed, said Hon ABA Fesini, the NDC’s representative in the Senate.
Responding, Hon Alexanda Afenyo Markin, a representative of the ruling NPP in the Senate, said the government was approaching the IMF as a result of global problems, including the Koran and Russia’s occupation of Ukraine.
Dr. Najeeb Ibn Hassan, an economist, says his visit to the IMF in Ghana has both advantages and disadvantages. The advantage is that the country will use the money to solve its problems, and the IMF can forgive the debt. The disadvantage is that Ghana has to meet all the criteria set for women.
Ghana is on the list of countries in crisis due to the outbreak of the coronavirus and Russia’s continued occupation of Ukraine.
VOA