The Dispatch

VAT rate to be adjusted

The banner story of the Dispatch captioned; ?VAT rate to be adjusted?, informs that the government will monitor the performance of the Value Added Tax (VAT) and adjust the rate if necessary.

The story which published the contents of an April 13, IMF release on Ghana, titled "Enhanced Structural Adjustment Facility Policy Framework Paper, 1999-2001", prepared by Ghanaian authorities in collaboration with IMF and World Bank officials, says the government hope to increase revenue to GDP ratio to 19 percent over the medium term.

According to the paper, based on the "Ghana-Vision 2020" document, the government has requested from the IMF, a new three-year Enhanced structural Adjustment Facility arrangement for 1999-2001.

The World Bank is also expected to approve a second Economic Reform Support Operation (ERSO II) in 1999 to deepen the reforms that are being carried out under ERSO I, approved in June 1998.