Despite Ghanaians raising issues with the controversial E-levy to the extent of demonstrating yesterday, Finance Minister has insisted that Ghana is not going to seek a bailout from the International Monetary Fund.
An unperturbed Mr Ofori –Atta insists that Ghana as a country has what it takes to turn the situation around so e will rather seek homegrown solutions to solve our economic woes.
He made these pronouncements while speaking at the third in a series of town hall meetings in the Northern Regional capital of Tamale on the controversial Electronic Transaction Levy (E-Levy), Ken Ofori-Atta reiterated that government will do what is best for the country.
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Despite harsh criticisms, the government is of the view that the most prudent measure in the face of Ghana’s ailing economy is not to go back to the IMF but rather rely on the E-levy to raise revenue domestically.
“I can say; we are not going to the IMF. Whatever we do, we are not. Consequences are dire, we are a proud nation, we have the resources, we have the capacity. We are not people of short-sight, but we have to move on. So let’s think of who we are as strong proud people, the shining star of Africa, and we have the capacity to do whatever we want to do if we speak one language and ensure that we share the burden in the issues ahead.”
As it stands now, the national conversation has been around the government pushing through the controversial 1.75% electronic transaction levy estimated to rake in some $1 billion annually or going onto an IMF program.
Meanwhile, some analysts have suggested seeking an IMF bailout as a better alternative amidst public disapproval of the E-levy, but the government has said it will have none of that.
Others have also brushed off calls for the government to go under an IMF programme insisting that the options left for Ghana to consider are fiscal discipline, a reduction in wasteful expenditure, and the sealing of revenue leakages.
By: Stella Annan | myactiveonline.com Twitter @activetvgh
