The Country Representative of the International Monetary Fund, Dr. Albert Touna Mama, says the present state of Ghana’s economy does not require an urgent economic programme from the Fund.

According to him, although an IMF programme is a good one for the short term, it is not a sustainable if drastic policy measures are not followed.

“We all agreed that the IMF programme may not be the path for the government now and therefore I will call on stakeholders including the government to focus attention on the reforms and policies. This is because an IMF programme may be a short term solution” he mentioned at the Economic Governance Platform on the E-Levy, organised by the Economic Governance Platform, Advocates for Christ Ghana and supported by Joy Business.

He urged stakeholders including the government to focus on policy measures that will revive the economy, rather than going to the IMF.

Speaking at the same event, a Deputy Finance Minister, Dr. John Kumah said government will be able to rake in the ¢6.9 billion projected revenue from the controversial E-Levy.

This is because all the necessary agitations by stakeholders have been addressed.

“We know that the introduction of a new tax programme will bring some attrition and we factored that to about 25%, just so we have a realistic target. If anybody tells you that the projected revenue can’t be raise, it is a lie because we know what research we have done before coming up with the projection.”

“We need this tax to be able to continue with development projects, rather than going to the market [international capital market] to borrow which will be another cost to the tax payer” he said.

Economist Professor Godfred Bokpin however challenged government to block the financial loopholes in the tax system to raise the necessary revenue rather than going ahead with the E--Levy.

“We are losing so much as a country through tax loopholes and exemptions. What I will advise the government is to look out for ways to seal the leakages and get all those informal sector into the tax net” he advised.

Professor Charles Ackah speaking on domestic revenue mobilization rejected claims that the only alternative to revive the economy is through the E-Levy.

Executive Director of Penplusbytes, Juliet Amoah expressed confidence that the suggestions made at the forum will be considered in the ongoing E-Levy debate.

The theme for the public forum was "E-Levy, IMF or what sustainable solutions to Ghana's debt crises.