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E-Levy Will Not Be Scrapped Despite IMF Bailout – Government

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E-Levy Will Not Be Scrapped Despite IMF Bailout – Government

The Finance Ministry has disclosed that government will not terminate the 1.5% levy on electronic transactions, despite its application to the International Monetary Fund (IMF) for economic assistance.

This was contained in a statement from the Ministry on Tuesday, addressing key questions regarding government’s ongoing engagement with the Fund.

Regarding the controversial levy, the Ministry explained that government will add the proceeds from the levy to the support from the IMF in order to shore up the country’s economic fortunes.

Addressing the question of whether the levy will be scrapped, the Ministry said, “NO. The IMF lending to Ghana will be for balance of payments support (i.e. to shore up the international reserves).

“Government is committed to ensuring the smooth operationalisation of all taxes including the e-levy to ensure that in addition to the IMF’s resources, government can continue to support its developmental goals on its own while ensuring that tax-to-GPD ratio increases to the peer range of 16%-18%”.

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It continued: “An IMF-supported programme is likely to encourage the government to investigate the factors hindering the success of the e-levy (including by providing technical assistance if needed) and come out with strategies to improve it”.

The Finance Ministry also noted that additionally, other tax measures could be considered for the medium-term.

The situation is what has consequently forced the country to resort to the IMF for a bailout.

In that regard, a team from the International Monetary Fund (IMF) is expected to arrive in Ghana on Tuesday, July 5 to begin negotiations with government on the economic support it is seeking.

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The IMF officials – comprising senior officers from the Fund and local staff – will meet the Finance Ministry, the Economic Management Team and the Presidency during their stay.

A statement issued by the Finance Ministry added that after their arrival on Tuesday, in-person meetings with the government would begin on Wednesday, July 6.

E-Levy will not be scrapped despite IMF bailout - Government
Finance Ministry statement

“The Ministry further takes this opportunity to assure Ghanaians of the government’s commitment to successfully negotiate a programme with the IMF in the coming months in support of Ghana’s economic recovery”.

Among other reasons, their visit to the country would largely involve deliberations on the modalities for a package to support Ghana’s ailing economy.

It is expected that details of the bailout programme and its conditionalities will be made public after several engagements.

Government’s decision to seek economic refuge from the Fund has been received with mixed reactions as some, especially members of the National Democratic Congress (NDC), argue it has been long overdue.

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Some have also expressed concerns over what the move could mean for public sector jobs and social programmes with organised labour kicking against the decision.

Source: www.GhanaCNN.com

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Charcoal Seller Commits Suicide Over GH¢2,000 Debt

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Charcoal Seller Commits Suicide Over GH¢2,000 Debt

The decomposed body of a 22 year old charcoal seller has been found hanging in an abandoned public toilet at Gomoa Obiri in the Gomoa West District of the Central Region.

Suicide

Information gathered by revealed that the deceased Kobina Gyata got missing for about three months in the community.

Report says, the Gomoa Obiri Community in collaboration with the other nearby Community conducted a search to find the whereabouts of the deceased but couldn’t fond him so they stopped suspecting he was on a trip to buy charcoal elsewhere in a trip.

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Report says, they Community conducted a search for the last time only to find him hanging dead in an abandoned public toilet which is at the entrance of the Gomoa Obiri Community with his body decomposed.

Speaking in an interview, Chief of Gomoa Obiri Nana Apoh Bondam V, explained that a client of the deceased gave the him about three thousand Ghana cedis to produce charcoal but the deceased failed to do so. When the client decided upon to come for her bags of charcoal the deceased was no where to be found.

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They all thought he had traveled to to buy charcoal as he usually does, and all efforts to get him on phone proved futile only for them to see his decomposed body hanging in an abandoned public toilet in the community.

He suspects the deceased took his life to prevent disgrace after spending the money for the charcoal.

Source: www.GhanaCNN.com

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JUST IN: National Service Scheme Sends Out Important Message To The Public and Prospective Personnel-See Statement Issued

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JUST IN: National Service Scheme Sends Out Important Message To The Public and Prospective Personnel-See Statement Issued

The National Service Scheme has sent a vital information to all Ghanaians. According to them, they have extended Pin Codes Registration deadline for 2022/2023 prospective National Service Personnel.

“The Management of the National Service Scheme (NSS) has extended the deadline for registration of PIN codes to Monday, August 22, 2022, for the prospective National Service Personnel to register and undertake their mandatory national service for the 2022/2023 service year.” A letter signed by Armstrong Esaah on Monday, 8th August 2022 reported.

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The extension of the deadline is to give an opportunity to the prospective National Service Personnel who faced challenges during the registration process to have ample time to complete their registration. 3. It must be noted that prospective National Service Personnel include eligible Ghanaian final year students from all accredited tertiary institutions, defaulters who submitted their applications and private registrants.

According to the letter, All prospective national service personnel are hereby requested to take advantage of this extension to access their PIN Codes with their respective Index Numbers and Date of Birth on the Scheme’s website, www.nss.gov.gh and then proceed to any Agricultural Development Bank (ADB) Ltd. branch throughout the country to make a payment of Forty Ghana Cedis (GHC 40.00).

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Source: www.GhanaCNN.com

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Over 700 Refugees Fleeing Attacks In Burkina Faso Arrive In Ghana

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Over 700 Refugees Fleeing Attacks In Burkina Faso Arrive In Ghana

The Ghana Refugee Board has confirmed the arrival of over 700 Burkinabe nationals who have fled terrorist attacks in neighbouring Burkina Faso.

Refugee

The refugees, most of them women and children, are said to have fled from several communities near Bittou province in the Boulgou department, where Islamist militant fighters have stepped up attacks targeting local militias.

Civilians have also come under attack following accusations by the Islamic militant fighters of collaborating with Burkina’s security and defence forces.

The foreigners are seeking refuge in communities including Bansi, Mognori, Sapeliga, Kutanga and Yarigungu in the Binduri, Bawku municipal and Bawku West district.

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The majority of refugees are said to be from the Benliyali community in Burkina Faso where a suspected jihadist attack took place leading to the death of two residents including a local Imam.

Refugees in Upper East

Tetteh Paddy, the executive secretary of the Ghana Refugee Board who confirmed the arrival of the Burkinabe nationals said some of the refugees are also being housed in Getiga, a border community in the Binduri district of the Upper East Region.

He said the Refugee Board was in close contact with both the local and regional authorities to monitor the situation.

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Meanwhile, the district chief executive for Binduri, Ayinga Yakubu Abagre has said adequate arrangements have been put in place to temporarily accommodate the Burkinabe nationals.

The DCE said the assembly has been able to organise relief items to support the overwhelming number of the Burkinabe nationals who have flooded different parts of the district in a getaway from the Islamic militant fighters.

Addressing the media during a visit to six camps in the district where the Burkinabe nationals are being kept, the DCE said the assembly was working closely with the National Disaster Management Organization (NADMO), the Ghana Health Service and other local authorities to ensure the refugees are well catered for.

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While he admonished the refugees against behaviours that would hamper their temporary stay, the DCE called for donor support for the distressed refugees.

Source: www.GhanaCNN.com

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