Associate Professor at the University of Ghana Business School (UGBS), Prof. Lord Mensah, is advocating the country sign onto the IMF programme.

Speaking in an interview on Joy FM's Midday News on Monday, he said that he is not entirely against the IMF.

This, he explained, is because, as a country, we are financially disciplined when signed on to the Fund.

“We need to understand clearly that going to IMF is not bad. I have made this position clear. When we go to IMF, anytime you study our budget deficit dynamics; it tells you that we only become disciplined financially when we have IMF on us, so I will always drum for IMF,” he said.

Nonetheless, he stated that the government must allow some more time before seeking support from the IMF, particularly when the E-levy has been implemented.

“Since the government position was that it is the e-levy that will keep us going coupled with a self-financial deficit, why don’t we keep to it to the end of the year to see what happens," he said.

https://www.myjoyonline.com/government-may-consider-going-to-imf-john-kumah/

This follows a leading member of the New Patriotic Party (NPP), Gabby Otchere-Darko, who said the levy has failed to live up to the expectations of the government.

According to him, the e-levy has generated less than ¢60 million nearly two months after its implementation.

“What options are open to the government? The question should be: what option, if adopted, will re-inject investor confidence in our economy? Even if we find the $3-5 billion required, will that help? For example, e-levy, which was to have given us some ¢600 million by now, has done less than ¢60 million,” he said in a tweet on Monday, June 27.

But reacting to this, he stated that it is too early for anyone to rate the performance of the Electronic Transactions Levy (E-levy) since its implementation in May.

https://www.myjoyonline.com/i-am-not-against-an-imf-programme-gabby-otchere-darko/

He said that government should wait till the end of the year to decide on the performance of the levy.

“Probably it might be too early because usually when you issue a levy of that form, you are going to get reactions from the market, so we may have to give ourselves some time before we can decide that we want to go to the IMF or not.

“Not making up to the expected revenue of the E-levy, I would say that it is too early. Let us wait; we have more time. If we think E-levy is the ultimate, let us hold on and then make sure that by the end of the year, we come out to say whether it is performing or not,” he said.

Meanwhile, organised labour has once again kicked against the suggestions and consideration by the government to return to the International Monetary Fund for an economic programme if its home-grown programme fails.

Dr Yaw Baah, Secretary-General of the Ghana Trades Union Congress (GTUC), reiterated the need for a home-grown national policy rather than an IMF-sponsored program to transform the country's economy.

Speaking to endorse the National Employment Insurance Scheme under the Ghana Cares Obaatanpa initiative, Dr Yaw Baah said the country will be transformed with the tactical approach by all stakeholders to address the present challenges.

He believes the scheme will be a game-changer, hence no need for an IMF programme.