• About Us
  • Contact Us
  • Photo Gallery
  • Privacy Policy
  • Terms of Use
  • ChannelOne TV
  • Infographics
Wednesday, July 9, 2025
Citinewsroom - Comprehensive News in Ghana
  • Home
  • News
  • Business
  • Sports
  • Opinion
  • Listen To CitiFM
  • Watch ChannelOneTV
  • Videos
  • Citi Verify
  • Elections
No Result
View All Result
Citinewsroom - Comprehensive News in Ghana
  • Home
  • News
  • Business
  • Sports
  • Opinion
  • Listen To CitiFM
  • Watch ChannelOneTV
  • Videos
  • Citi Verify
  • Elections
No Result
View All Result
Citinewsroom - Comprehensive News in Ghana
No Result
View All Result

‘E-levy not the solution to revenue shortfall, go to IMF’ – Assibey Yeboah

Nii Larte LarteybyNii Larte Lartey
February 1, 2022
Reading Time: 2 mins read
ShareShareShareShare

A former New Patriotic Party Member of Parliament for New Juaben South, and a one-time Chair of the Finance Committee of Parliament, Dr. Mark Assibey Yeboah, is urging the government to reconsider its decision not to go back to the International Monetary Fund (IMF) in the face of the country’s dwindling revenues.

He maintains that the government’s insistence on passing the Electronic-Transaction Levy to shore up its revenue target is not right given the existential economic challenges.

The New Patriotic Party (NPP) administration has indicated that despite Ghana’s fiscal crisis, it is not settling on returning to the IMF for financial support but will look at prioritizing domestic revenue generation through the implementation of the E-Levy.

Finance Minister, Ken Ofori-Atta believes, going to the IMF again will have dire economic implications.

But speaking to Citi News, Dr. Mark Assibey Yeboah said a return to the IMF as a monetary organisation should not be viewed as a failure, but rather an avenue to salvage Ghana’s receding economy.

“Without a doubt, I think we should be placing a call to Washington if we haven’t really done that. We are just not going to ask for the funds just because E-levy has been passed or not. E-levy will just bring about GH¢5 billion. We are in a deep hole of our tax revenue and facing difficulties, so going to the Fund will give us some support.”

“So there is nothing wrong with going to the Fund.  Ghana is a member of the IMF so what is wrong going to ask for support when we are in difficulties to go and pool resources.  If I was the finance minister, I will be convincing the President that it is about time we went back”.

Dr. Mark Assibey Yeboah also added that the revenue expected to be accrued from the E-levy is insufficient to the extent that, it will not be able to ensure the economic stability government is eyeing.

“The GH¢6.9 billion target cannot be realized. There are a lot of exemptions so, in my estimation, the maximum amount we can get from the E-levy is GH¢5 billion, and that is less than a billion dollars, so I do not think that the E-levy is going to be a panacea to our revenues. Going to the IMF will ensure some stability and above all, we are going to get some $3 billion”.

The process to pass the levy has been characterized by controversy and fisticuffs in parliament.

Tags: E-LevyGhana NewsIMF
ShareTweetSendSend
Previous Post

Parliament’s Education Committee to meet with Education Minister over UTAG strike

Next Post

Committee probing Appiate incident presents report to Lands Ministry

Related Posts

Featured

Election 2024: Bawumia’s early concession was ‘Populist and Dangerous’ – Gbande

July 9, 2025
Featured

Ibaera Capital not party to Black Volta Gold deal – Bobby Banson clarifies

July 9, 2025
Featured

Ablekuma North Rerun: NDC confident of victory, slams NPP candidate

July 9, 2025
Featured

NPP calls on international community to intervene in Ablekuma North rerun

July 9, 2025
Featured

Kasoa-Winneba highway robbery suspect jailed 25 years

July 9, 2025
Featured

Govt scraps 1D1F, shifts focus to Agro-Processing Parks under 24-Hour Economy

July 9, 2025
Next Post

Committee probing Appiate incident presents report to Lands Ministry

ADVERTISEMENT
Citinewsroom - Comprehensive News in Ghana

CitiNewsroom.com is Ghana's leading news website that delivers high quality innovative, alternative news that challenges the status quo.

Archives

Download App

Download

Download

  • About Us
  • Contact Us
  • Photo Gallery
  • Privacy Policy
  • Terms of Use
  • ChannelOne TV
  • Infographics

© 2024 All Rights Reserved Citi Newsroom.

No Result
View All Result
  • Home
  • News
  • Business
  • Sports
  • Opinion
  • Listen To CitiFM
  • Watch ChannelOneTV
  • Videos
  • Citi Verify
  • Elections

© 2024 All Rights Reserved Citi Newsroom.