IBF shares ideas on how government can efficiently save GH¢83 billion

Senyo Hosi1212121211322 Senyo Hosi is a member of the Individual Bondholders Forum

Fri, 27 Jan 2023 Source: classfmonline.com

The Individual Bondholders Forum (IBF) which is kicking against the inclusion of its members in the government’s domestic debt restructuring programme, has given the Akufo-Addo administration some ideas it can use to save the economy some GH¢83.5 billion so as to spare them from a haircut.

The proposed measures include enforcing property taxation and VAT invigilation, recovering funds lost to financial irregularities as identified by the Auditor-General, divesting loss-making, defunct and troubled 17 state-owned enterprises, privatising selected SOEs to Tier-2 pension funds to drive efficiency and productivity, and reviewing the Free SHS Programme to make it more efficient through effective targeting and allowing parents who can pay to do so among others.

“The measures proposed above, per the estimation of the IBF, yield net savings of GHS83.5bn”, the IBF said in its report, adding: “The above recommendations are competent enough to urgently address the fiscal challenges and enable us to reach the desired 55% debt-to-GDP target proposed to the IMF”.

Read the IBF’s full report below

Source: classfmonline.com
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