Gabby’s E-Levy tweet: mind-game on Ghanaians for IMF program
Adnan Adams Mohammed
A tweet of Gabby Okyere Darko, widely circulated on social media make a revelation that the Electronic Transaction Levy (E-levy) has so far generated only 10 percent revenue.
The controversial E-Levy which was implemented in April has since generated only 10% of the targeted about GHC5.4 billion revenue for the year.
Before the ‘schemed’ parliamentary approval of the most rejected tax policy in the fourth republic of Ghana’s democratic governance, some economists had advised the government to consider relief from the International Monetary Fund (IMF), but, the government ‘stubbornly’ refused to listen. So some policy analysts and journalists have described Gabby’s tweet as a mind game on Ghanaians to pave way for the government to announce an intent of going to the IMF since revenues are low.
“After 5 months of stalemate and bashing, the e-levy, after implementation, is delivering only 10% of estimated revenues”, Gabby Okyere Darko’s, as in the most cases described as ‘De-facto president or Prime minister’ by social commentators, tweet captured. “Our revenues remain low as compared to the rest of the world; debt levels dangerously high, cedi, like most currencies, struggling against the US dollar.”
A journalist with the Economy Times and www.newsguideafrica, Adnan Adams Mohammed, described the tweet as a mind-game on Ghanaians.
He asserts that at this juncture government’s last resort is for IMF program to restore investors’ confidence as the government’s debt issuance both foreign and domestic has been receiving a poor response for past months as the dollar keeps bullying the cedi.