You are here: HomeNews2022 07 03Article 1574270

Business News of Sunday, 3 July 2022


Minority impeding E-Levy passage partly led to Ghana's IMF move - Gabby

Gabby Asare Otchere-Darko, a leading member of the New Patriotic Party Gabby Asare Otchere-Darko, a leading member of the New Patriotic Party

Leading member of the governing New Patriotic Party (NPP), Gabby Asare Otchere-Darko says Ghana is going to the International Monetary Fund (IMF) because the biggest opposition party, National Democratic Congress (NDC) delayed the passage of the E-Levy.

He stated that government’s attempt to raise funds internally was thwarted by the NDC who were adamant to agreeing to the passage of E-levy for over six months which has brought the country thus far.

Speaking on Newsfile in Accra, Gabby Asare Otchere-Darko said the NDC is partly to blame for the current predicament the government finds itself in.

“Governments made their policies based on the E-Levy because they expected it to raise the revenue”, he said.

“In terms of managing the economy, there were challenges but government was handling it well. Government saw the challenges and went to Parliament to set up policies but it was frustrated in parliament.”

“It’s unfortunate that we were forced to the IMF but I am not too pessimistic about it”, he added.

The government’s decision to seek a bailout from the IMF has triggered a lot of conversations on the competence of the economic management team.

In a speech to members of the NPP, maverick MP for Assin Central, Kennedy Agyapong said it will be difficult for the NPP to retain power in 2024.

“It is just like handing over power to NDC without a contest, straight away.”

“Because the noise we made, and I chew my own words back when I said NDC went to IMF because of mismanagement of the economy. So if NPP is [also] going to IMF, what am I going to say [now]?”

“So Breaking the 8 [winning Election 2024 NPP campaign message] is going to be tough. You cannot use the face of those who took us [back to IMF] to ‘Break the 8’, it won’t work. My message to you is simple, you cannot, read my lips and I’m not scared of anybody in the party, I’ll tell you the gospel truth, those who take you to IMF, those same faces, cannot Break the 8… a word to the wise is enough,” he added.

“I’m very, very sad today, when I saw the publication that we are going to the IMF. You know that is what [former President] Mahama was praying for. He’s gotten his wish. It will not be easy, it will take hard work, so we should brace ourselves that there is a task ahead of us and therefore it is only unity, that will help us sail through this ‘Breaking the 8,” Mr Agyapong said.

Ghana’s President, Nana Addo Dankwa Akufo-Addo on republic day, 1st July asked the Finance Minister Ken Ofori-Atta to engage the IMF for a bailout since the country’s economy is in dire need of help for survival.

Join our Newsletter