Govt Won’t Scrap E-levy Despite Going To The IMF – Kwaku Kwarteng

He said calls by some Ghanaians that the controversial tax should be scrapped because the government has contacted the International Monetary Fund (IMF) for assistance is unfounded.

Mr. Kwarteng said the E-levy was never proposed as an alternative to the IMF.

“I’ve heard people make comments as though the pain of E-levy can be escaped if you go for an IMF programme. The IMF is going to come and start discussions. When they come to your country, they do not come and tell you to relax taxes. In fact, they will probably come and say E-levy is not enough. When IMF comes to your economy, the records show, they will say don’t employ people, cut your expenditures and increase your revenue so you may have to take on more revenue measures,” he said on Citi FM in Accra.

The Ministry of Information on Friday, July 1, 2022, announced that President Akufo-Addo had given approval for Ghana to begin engagements with the IMF for a bailout. The ministry said the Minister for Finance, Ken Ofori-Atta will be leading the negotiations with the IMF in the coming days.