The Director of the Institute of Statistical, Social and Economic Research (ISSER) at the University of Ghana, Prof. Peter Quartey says the government will still have to continue the collection of the Electronic Transfer Levy (E-levy) despite the move to the International Monetary Fund (IMF) for a bailout.
Prof. Quartey however, added that the government must also initiate moves to have the charges on the levy reduced.
“The IMF work together with governments. Initially, the policies and everything were just handed over from Washington to the respective countries, this has changed now. You have to develop your own policies and engage with the IMF and they will tell you which ones to take out, which ones to add and then you come to a consensus, based on that they will say, we will fund your programme.
“That is done through balance of payment support. It may take time, in the case of Sri Lanka, Sri Lanka announced they were going to the IMF and today, they haven’t finished the process,” he told TV3.
The ISSER Director also warned Ghanaians against immediate expectations from the bailout adding that the process and engagements with the Fund have to take some time.
