Finance Minister Ken Ofori-Atta

Government is expected to withdraw the controversial Electronic Transactions Levy (e-levy) Bill from Parliament today, February 11, 2022.

A new Bill is, however, expected to be laid later at a reviewed rate of 1.5%.

Speaking to JoyNews on Thursday, the Deputy Majority Whip, Habib Iddrisu, said details of the new Bill might not be laid on Friday.

“The e-levy will not come Friday [today]. The business statement will be presented by the Majority Leader and we will know from the Business Statement when the E-levy is coming,” he said.

Meanwhile, the government said a bailout from the International Monetary Fund (IMF) is not in its plans to restore fiscal stability in the country.

Finance Minister, Ken Ofori-Atta insists that the repercussion of seeking a bailout will not be favourable for Ghana’s fortunes.

“Consequences are dire, we are a proud nation, we have the resources, we have the capacity. We are not people of short-sight, but we have to move on,” he said on Thursday at the third Town Hall Meeting in Tamale.

“I can say; we are not going to the IMF. Whatever we do, we are not… So let’s think of who we are as strong proud people, the shining star of Africa, and we have the capacity to do whatever we want to do if we speak one language and ensure that we share the burden in the issues ahead,” he said.

This comes in the wake of economic challenges facing the country which have prompted speculation about a possible step in the IMF’s direction.

Earlier Town halls and stiff opposition

Government has proposed a 1.75% levy on all electronic transfers to help reduce the country’s debts while enabling it to fund the growing demands of Ghanaians.

At the second Townhall Meeting in the Western Region last week, to explain the need for the controversial levy to the citizenry, it was met with stiff opposition.

Before the meeting, President Akufo-Addo took to Twitter to seek support from the masses.

“E-levy for development. Ghana needs the E-levy,” he communicated.

The government has projected to rake in some GH¢6.9 billion from the levy.