E-Levy or IMF bailout? Akufo-Addo to chair crunch cabinet retreat on failing economy

Amidst the growing depreciation of the cedi and the recent increments in fuel prices, the Akufo-Addo government is expected to hold a crunch cabinet meeting to find solutions to the raging economic challenges.

The meeting is expected to take place at the Peduase Lodge, from Thursday, March 17, to Sunday, March 20, 2022.

The deliberations will be chaired by President Akufo-Addo, together with all NPP MPs, ministers, government appointees, and the governing New Patriotic Party (NPP) leadership.

Joy News sources say the meeting will discuss whether the government should continue to push through with the E-levy Bill or resort to the International Monetary Fund (IMF), in the face of the current fiscal hurdles.

The source further said the meeting will discuss other pertinent issues relating to the country’s development.

In a tweet on Thursday, a leading member of the ruling New Patriotic Party, Gabby Otchere-Darko also indicated that given the current deadlock on the controversial E-Levy Bill, there’s the need for a ‘national debate’ on the way forward.

“2022 began without the usual $3 billion injections of Eurobond cash. Govt’s post-COVID recovery GhanaCARES programme hinged partly on an E-levy which Parliament may not even OK.

“There should be a national debate: do we want IMF or E-Levy or both or none? Tough decisions confront Ghana”, he tweeted.

Earlier, Finance Minister Ken Ofori-Atta had rubbished the idea of going to the IMF.



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