E-levy has failed, run faster to IMF to save the economy – UG Prof. Bokpin tells Akufo Addo

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UG senior professor Godfred Alufar Bokpin has slammed the government’s efforts to alleviate Ghana’s economic problems. He asserted that the IMF is the only alternative (IMF).

He highlighted that the country’s present developments, notably its mounting debt levels, make going to the IMF the only choice.

According to Prof. Bokpin, the nation should have contacted the IMF in 2021, even before the government proposed the 2022 budget.

At this point, we have no alternative but to look at the different sectors – arrears as well as debt accumulation as a whole. Time is not on our side, and I think that the administration is realizing this. That in and of itself is a good thing.

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In recent years the subject has been broached widely. “It’s possible that Ghana should have joined up for the program in April [2021] and that it might have been included in the 2022 budget,” he said.

The professor, who has been advocating for the government to take effective steps to improve Ghana’s economic position since last year, stated that going to the IMF is not a terrible idea for Ghana, especially at this point when everything seems to have gone apart. Prof. Bokpin

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Please don’t think of the IMF as a sin that cannot be pardoned. It’s time for us as a nation and as a leader to consider all of the options on the table in order to achieve our shared objective. The government’s softening of the ground is something I’ve seen, he said.

Somebody informed me that the earth is not softening at all, but melting at a rapid pace, therefore I’m open to being proven incorrect. The situation we find ourselves in right now is not ideal. It is imperative that we respond swiftly, and that is exactly what I will say,” he said.

The economist made these statements on JoySMS on Tuesday, June 28, which was monitored by Modernghana News.

E-Levy lamentations by Gabby Otchere Darko, who stated that the E-levy, which was meant to save the country’s economic crisis, has produced just 10%, have inspired him to speak out.

“After 5 months of stalemate and bashing, the e-levy is only delivering 10% of estimated revenues after implementation; our revenues remain very low in comparison to the rest of the world; debt levels dangerously high, cedi, like most currencies, struggling against the US dollar,” Gabby tweeted on Monday, June 27, 2022.

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