An Associate Professor at Andrews University in the USA, Williams Kwasi Peprah, wants the government to maintain the Electronic Transaction Levy (E-Levy) since it will be one of the major tax tools to generate revenue for the country.
According to him, this may convince the International Monetary Fund (IMF) to give the country adequate funds to shore up its balance of payments.
Professor Peprah is also calling for a review of government economic policies to correct the structural imbalances within the economy.
He tells Joy Business managers of the economy must admit that the country is experiencing a serious payment imbalance because of structural impediments, among others.
“Ghana needs to admit that it is experiencing a serious payment imbalance because of structural impediments or slow growth and an inherently weak balance of payment position. Ghana should provide a comprehensive programme including the policies needed to correct the structural imbalances over an extending period”
He added that “the government should agree to adjust its economic policies to overcome the problem that led to seeking financial aid. And finally, Ghana's programme should be for a maximum period of four years.”
Another important element, Dr. Peprah pointed out, is a plan for the full repayment of the funds IMF will assist the country with, adding “the government should maintain the e-levy tax to give assurance to IMF that this will be the basis of making funds available to pay the fund within a maximum period of 10 years.
“This may sit well with the IMF and Ghana may qualified for Extended Facility Fund from the IMF”, he explained.
Latest Stories
-
Ghana’s inflation to average 11.5% in 2025; policy rate expected to reduce sharply – IMF
12 mins -
Let’s prioritize research quality in higher education institutions for industrial growth-Prof. Nathaniel Boso
8 hours -
Herman Suede is set to release ‘How Dare You’ on April 24
11 hours -
Heal KATH: Kuapa Kokoo, Association of Garages donate 120k to support project
12 hours -
KNUST signs MOU with Valco Trust Fund, Bekwai Municipal Hospital to build student hostel
12 hours -
The influence Ronaldo has on people, Cadman Yamoah will have same on the next generation – Coach Goodwin
12 hours -
Gender Advocate Emelia Naa Ayeley Aryee Wins prestigious Merck Foundation Awards
13 hours -
South Africa bursary scandal suspects granted bail
14 hours -
Ecobank successfully repays $500m Eurobond due April 18
14 hours -
Re: Doe Adjaho, Torgbui Samlafo IV, call for Unity among Paramountcies in Anlo
14 hours -
Extortion and kidnap – a deadly journey across Mexico into the US
14 hours -
Rihanna says fashion has helped her personal ‘rediscovery’ after having children
14 hours -
Development Bank Ghana targets GH¢1bn funding for commercial banks in 2024
15 hours -
Shatta Movement apologises to Ghana Society of the Physically Disabled after backlash
15 hours -
Sammy Gyamfi writes: Tema-Mpakadan Railway Project; A railway line to nowhere
16 hours