Don’t misuse second tranche of IMF cash – Mahama tells Akufo-Addo

The flag bearer of the National Democratic Congress (NDC) former President John Mahama has urged the Akufo-Addo government to be judicious in utilizing the recently approved second tranche of IMF bailout.

The Bank of Ghana acknowledged receipt of US$600 million as the second tranche of Ghana’s bailout package from the International Monetary Fund (IMF) yesterday.

Reacting to the development, Mr Mahama said the cash meant for budget support and stabilization of the local currency must be used to bring relief to the suffering Ghanaians.

Despite the release of the first tranche last year, Mahama contends that Ghanaians continue to endure difficulties.

“Under normal circumstances, the release of $600 million by the International Monetary Fund (IMF) to the government of Ghana should provide relief to the already overburdened and suffering Ghanaian. It is, however, evident that Ghanaians will continue to suffer as long as the Akufo-Addo-Bawumia and NPP remain in office,” he wrote in a Facebook post.

Mr Mahama, who is on a tour in the Ashanti region, also highlighted the potential impact of the Value-Added Tax (VAT) on electricity consumption.

“Implementing VAT on electricity consumption will increase tariffs by almost 21% and exacerbate the hardship on Ghanaians. This will affect the prices of goods, services, and transport fares. I agree with organised labour that the government must reverse its decision to start collecting VAT on electricity consumption.”



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