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E-levy better than going to IMF for 'peanut' — NPP man

Paul Amaning, the Eastern Regional New Patriotic Party (NPP) Chairman hopeful, has renewed calls on Ghanaians, especially the youth, to support the electronic transaction levy (E-levy) bill and collection of the tax.

President Nana Addo Dankwa Akufo-Addo with Vice President Dr. Mahamudu Bawumia

That, he said, was a better alternative to raise more revenue for development than seeking help from the International Monetary Fund (IMF).

He said the E-levy is a more viable alternative in terms of solving revenue shortfalls than suggestions for the country to seek a bailout from the IMF.

"Ghanaians must embrace the E-Levy policy since it will prevent the government from seeking support from the IMF," he said on Accra-based Kingdom FM.

He maintained that the panacea to generating more revenue to revive the economy is to do that domestically through vehicles like the proposed E-levy.

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"I don't support us going to the IMF now. This is the time we have to stop this NPP and NDC thing and get [going]. I don't think we need to go to the IMF because there are two things that will happen about policy descriptions and the amount of money we will get because they won't give us more than half a billion dollars which is peanut and less than half of what E-levy will give us. So we need policy direction changes and actions, and we can do it domestically," he noted.

Some analysts have proposed seeking an IMF bailout as a better alternative amidst public disapproval of the E-levy, but the government has said it will have none of that.

Others have also brushed off calls for the government to go under an IMF programme, insisting that the options left for Ghana to consider are fiscal discipline, a reduction in wasteful expenditure, and the sealing of revenue leakages.

President Nana Addo Dankwa Akufo-Addo has assented to the E-levy bill passing it into law on Thursday, March 31, 2022.

Parliament approved the bill on Tuesday, March 29, 2022, after the minority staged a walkout.

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The Finance Minister, Ken Ofori-Atta revealed that deductions will start in May this year.

He said that is the assurance he has been given by the Controller and Accountant General (CAGD) and the Ghana Revenue Authority (GRA), who will be the revenue collectors.

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