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.
— Gabby Otchere-Darko (@GabbyDarko) March 17, 2022
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“There’s ongoing capital flight and foreign investors have withdrawn close to $200 million in January alone.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”.
Source: Peacefmonline.com
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What right do you have to ask us this question? What contribution have you ever made to the economy except been a conduit/funell for near criminal economic activities from some government functional?
GHANAIANS ARE JOKERS NO COUNTRY BORROWED TO FUND THEIR INFRASTRUCTURE PROJECTS IS ONLY A COUNTRY THAT IS SICK. ALLOW PEOPLE TO PAY TAXES NOT TO LEAVE FOR FREE, A COUNTRY LIKE RUSSIA, USA, CANADA, AUSTRALIA, AND OTHER MIDDLE INCOME COUNTRIES DO NOT BORROWED TO FUND THEIR INFRASTRUCTURE PROJECTS, PAY GOVERNMENT WORKERS PURE ***barred word***. NO COUNTRY WANT THEIR CAKE AND EAT IT TOO. NO FREE LUNCH ANYWHERE IN THE WORLD. IF YOU DON'T WANT TO PAY TAXES TO FUND YOUR ROADS USE YOUR MOUTH TO PAVE YOUR ROADS. TAKE A LOOK AT THE GHANA CEDI, ANYTIME BANK OF GHANA SELLS DOLLARS GUTA AND THEIR PEOPLE GET A CHUNK OF IT TO IMPORT ALL KINDS OF sh*t INTO THE COUNTRY INSTEAD FORCUSING ON THE COUNTRY'S LOCAL FOOD PRODUCTION THAT IS WHAT IS KILLING THE CEDI TO BE THE WORST PERFORMING CURRENCY INTHE WORLD. GHANAIANS SHOULD TELL THE WORLD WHAT VALUE ADDED PRODUCTS DO GHANA EXPORTS TO EARN FOREIGN EXCHANGE TO SHORE UP THE CEDIS GHANA ONLY EXPORT RAW MATERIALS WHICH DOESN'T GET NOTHING MUCH. SO WE NEED TO EXPORT MUCH ADDED VALU TO GAIN FOREIGN EXCHANGE TO SHORE UP THE LOCAL CURRENCY AND THAT IS WHAT PRESIDENT NANA ADDO TRYING TO DO BY ONE DISTRICT ONE FACTORY. TO CHANGE THE PARADIM SHIFT TO GET MORE FOREIGN EXCHANGE TO HELP THE CEDI.
He should go and ask his mother!
We are where we are because of the administration’s mismanagement… so how about the critical players in the economy resign from their positions and get in there people who can really do the job. The president and the finance minister and the Bank of Ghana boss.
The IMF approach has neve solved Ghanas economic difficulties so therefore there is the need to boost up internal and local levilisation to support the current economic hardships Ghana is facing. Its interesting that the opposition NDc and some section of Ghanaians have not accepted the gospel of the E-Levy from the present administration. Tax payment is not new to Ghanaians. It is the civil obligation to pay taxes for the government to provide social and economic development. The "Town Hall" message of the Minister of Finance, Mr Ken Ofori Atta is not touching the heart of Ghanaians. The clearance and the explanation of the many past and current "tax abuses" of various goverment ministers is not convencing. The political development in Ghana is shaping in a new direction as Ghanaians are much much politically and socially enlightened, thanks for the effective work of "the social media." Dont take Ghanaians for granted. Economic linving in Ghana is very tough at the moment. Ghanaians are watching and controling their purse and money. Paying E-levy yes! But am not sure is the social and economic developemet will be utlise or take the risk to pay the e-levy for the sake of the blessings, hence "tax payers money is abused" And I beleive ghanaians are facing double agony and thorn between the town hall message of Ken Ofori atta and the positive response from this propaganda saga. For majority of Ghanaians, the government must go to IMF to reduce the current tension withing the economic circles which is bringin much sufferings to Ghanaians. Thank You
The line of argumentation of some NDC politicians leaves much to be desired. Let us assume that the NPP-administration with the e-levy wants to break the status quo of always rushing to the IMF for a bail out. And give it the benefit of the doubt to find out how well it fares with it to at least justify the successes or losses of doing something differently. Then we just can't keep doing the same thing and expect different results. Let us, therefore, give his administration the benefit of the doubt. Thus, the IMF approach has never solved our financial problems, despite the stringent measures always associated with it.