The Member of Parliament for Sekondi, Andrew Egyapa Mercer, vehemently opposes the idea of going to the International Monetary Fund (IMF) for financial assistance amid Ghana’s economic challenges.
Mr. Mercer argues that it will be better for the country to generate revenue internally than to turn to the IMF again, for assistance, which may come with a tall list of conditions.
Speaking at a government town hall meeting on E-Levy, in the Western Region, Mr. Mercer said, “we can go to the IMF to support us, which is the easiest option available. But we have been to them over and over again. Their conditions as we know it, such as cutting down on public sector expenditure, reducing public sector wage bills, increasing revenue, will further burden our economy.”
“With all these in mind, why will we still go to them for aid when we can internally generate revenue? Government decided to go for the better option, which is raising revenue through the e-Levy.”
His remarks come after calls from different stakeholders, including lawmakers, for the government to go to the IMF for financial support and policy credibility.
The government’s plan to raise revenue through the Electronic Transaction Levy has been widely criticised by some financial analysts and even some members of the NPP, who have argued that the expected revenue from the controversial tax will not be enough.