Business News Wed, 2 Feb 2022

Ghana is in a mess, run to IMF now - Ato Forson

E-levy can't solve Ghana's problems, Ato Forson

Government holds townhall meeting on E-levy

Ghana surviving on funds from IMF, Former deputy finance minister

Former Deputy Finance Minister, Cassiel Ato Forson, has asserted that Ghana is caught up in a mess.

According to him, government needs to return to the International Monetary Fund (IMF) for financial assistance as soon as possible.

He explained that the country's debt level is unsustainable and if care is not taken, Ghana would be downgraded by Moody's again.

Speaking on Citi FM's Eyewitness News programme on Tuesday, February 1, 2022, the former deputy finance minister said, “Our debt levels are not sustainable. Our credit levels are going down. If care is not taken, Moody’s is going to downgrade Ghana further. The very IMF that they are running away from is the same institution that gave us the 2 billion US dollars in the spate of two months. We are surviving as a country because of the same IMF."

He continued that government should rethink its decision to implement e-levy with the explanation that it will generate revenue for the country.

Ato Forson highlighted rolling out e-levy will not solve Ghana's problems.

“Ghana is in a mess and I can assure you that every single minute that they delay in placing that phone call [to the IMF], our economic situation deteriorates, and it is going to deteriorate further [without it]. The government must heed that advice and make that decision [to go to the IMF]. It has been long overdue,” he said.

"The government should not think that implementing the e-levy will solve our problems. The debt levels are so high. The antidote is to go to the IMF,” he argued.

Meanwhile, government is holding a town hall meeting to educate Ghanaians on the need to accept the e-levy.

Source: www.ghanaweb.com
Related Articles: