I can’t give an assurance E-Levy won’t be collateralized - Ofori-Atta

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Thu, 12 May 2022 Source: www.ghanaweb.com

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Finance Minister, Ken Ofori-Atta, has stated that he cannot give an assurance on whether the proceeds from the Electronic transfer levy will be collateralized or not.

Speaking at a press briefing on the economy on May 12, 2022, the Minister noted that collateralization is not a good economical measure and thus cannot make any bold statements on whether or not the government will tow that line.

He said, "I can't give you an assurance that E-Levy won't be collateralized. The question is, you know that collateralization is bad. The assurance is where is the economy going, where are the instruments that we have in our basket and how are we going to deploy them. Unless you are categorical and you know something that I don't know but collateralization is bad. So I will not give you an assurance. I will at each point in time examine what we have and make a decision with cabinet as to how best we can use our resources as a country."

Meanwhile, Roads Minister Kwesi Amoako-Atta earlier revealed that the main aim of the e-levy is to get bonds for the country.

According to him, the government needs money to build infrastructure, especially roads.

“The government in its wisdom has proposed the passage of the E-levy to bring more revenue to build the road infrastructure of our country for all of us.”

“So the government is looking forward for the passage of the E-levy that will bring in greater revenue that would be securitized and then used to raise bond if possible to build the road infrastructure,” he said.

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Source: www.ghanaweb.com
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