Former Finance Minister, Seth Terkper, has assured former President John Mahama's willingness to participate in the government's crunch cabinet retreat over E-levy Bill and IMF bailout.

Speaking on JoyNews' AM Show, Mr Terkper said the presence of Mr Mahama and other individuals of the opposition party National Democratic Congress (NDC) at the meeting solely depend on government extending an invitation.

He told host Benjamin Akakpo that the former President would not prevent a collaboration like his government did in 2014 when the NPP was in opposition, but they were invited to the National Economic Forum at Senchi-Akosombo.

"President Mahama has said that we will be there if we are invited to show his sincerity when he invited the then opposition, and they refused to come."

On Thursday, government began a crunch cabinet meeting to find solutions to the raging economic challenges. The engagement taking place at the Peduase Lodge will end on Sunday, March 20, 2022.

The deliberations will be chaired by President Akufo-Addo and all NPP MPs, ministers, government appointees, and the party's leadership.

For the former Finance Minister, the initiative taken by the government is long overdue.

Mr Seth Tekper noted that the World Bank and some prominent personalities in the NPP have been pointing to this since the debate over E-levy Bill or IMF bailout commenced.

"Absolutely. If you are being told by a personality like World Bank Country Director and the bosses in Washington saying as diplomatically as possible that before Covid-19, you had a situation. They said we had arrears which were tantamount to 5 per cent GDP.

Some stalwarts in the NPP like Mr Pianim have been pointing to the need for us to come to grips."

Government has noted that it will raise revenue domestically, therefore, the introduction of the Electronic Transaction levy (E-levy). Finance Minister Ken Ofori Atta noted that government would not seek assistance from the International Monetary Fund (IMF).

He made the comments in reaction to calls by some Ghanaians for government to head to the IMF to grow the economy.

Among those who supported IMF bailout were Minority in Parliament, the Executive Director of the Media Foundation for West Africa (MFWA), Sulemana Braimah, former New Juaben South MP, Mark Assibey-Yeboah, among others.