E-Levy, Wage Bill, others high on agenda as IMF bailout negotiations begin

A crunch meeting between government negotiators and officials of the International Monetary Fund (IMF) has commenced in Accra.

The Fund’s officials, led by Mission Chief for Ghana, Carlo Sdralevich, will determine the fate of Ghana’s financial future as the country has tabled some policies  for discussion.

The meeting, according to sources, commenced this afternoon as Ghana anticipates a good deal for citizens.

The Finance Ministry earlier revealed that the engagement will be a 7-day activity with the IMF officials, government’s Economic Management Team and the Presidency.

On revenue, sources reveal that the electronic transactions levy (E-Levy) and the current wage bill of the country will come under scrutiny by the team.

Other issues to be tackled are; monetary and inflation developments, data gathering and reconciliation, revenue among others.

Government has already indicated that its flagship programmes will not be canceled despite the stringent scrutiny and potential conditionalities that accompany such bailouts.

This has attracted attention from critics as beneficiaries and policymakers look to the outcome of the engagement in this regard.

But IMF Mission Chief for Ghana, Carlo Sdralevich, has said the firm stands ready to assist Ghana with a bailout.

“The IMF stands ready to assist Ghana to restore macroeconomic stability, safeguard debt sustainability, and promote inclusive and sustainable growth, and address the impact of the war in Ukraine and the lingering pandemic.”

But Chartered Economist and political analyst has blamed the Akufo-Addo government for seeking help from IMF whereas it could have worked on its industries and capitalise on exports.

To him, Akufo-Addo’s government needs “common sense but not IMF.”

Speaking to Prince Minkah on Dwaboase on TV XYZ, Oduro Takyi, also known as B.O.T argued that the country’s economic management team could have used better fiscal policies to man the country’s resources and avert the hardship in the country.