Home General News Opposition raises concerns as government receives $600m as second tranche of $...

Opposition raises concerns as government receives $600m as second tranche of $ 3bn IMF deal

In a bid to provide financial relief to the struggling economy of Ghana, the International Monetary Fund (IMF) has released $600 million being the second tranche of the $3bn bailout program to the government.

413
0

In a bid to provide financial relief to the struggling economy of Ghana, the International Monetary Fund (IMF) has released $600 million being the second tranche of the $3bn bailout program to the government.

While this injection of funds is expected to alleviate some of the economic burdens faced by Ghanaians, concerns have been raised by opposition figures about the government’s handling of the situation.

Former President and Flagbearer of the National Democratic Congress (NDC) John Dramani Mahama has argued that the relief may not reach the citizens as intended, attributing the continued suffering to the Akufo-Addo-Bawumia administration and the New Patriotic Party (NPP).

He noted that the implementation of Value Added Tax (VAT) on electricity consumption has drawn particular attention, with estimates suggesting a nearly 21% increase in tariffs, further exacerbating the hardship on the Ghanaian population.

Organized labor has joined the opposition in urging the government to reconsider its decision to impose VAT on electricity consumption, citing potential ripple effects on the prices of goods, services, and transport fares.

The National Democratic Congress, positioning itself as an alternative, expresses eagerness to address Ghana’s economic challenges upon assuming office in January 2025.

“The National Democratic Congress (NDC) is eager to and ready to address Ghana’s economic challenges and provide substantial relief to Ghanaians upon assumption of office in January 2025”, Mr. Mahama wrote.

The NDC flagbearer has called on the NPP government to exercise caution and responsibility in utilizing the IMF funds and other potential financial assistance from entities such as the World Bank.

He has also encouraged the NDC minority in parliament to maintain strict oversight over the government’s financial decisions, especially in light of recent controversies involving the Bank of Ghana’s alleged unauthorized printing of billions of cedis.

John Mahama promised to engage with the Ghanaian public, sharing his vision for building a prosperous nation. He emphasizes key initiatives, such as the 24-hour economy policy, aimed at creating well-paying jobs. Additionally,

He has also announced a three-day visit to the Ashanti Region, where he plans to interact with the local population and listen to their concerns as part of his ongoing engagement with citizens.

 

 

 

Previous articleYul Edochie launches True Salvation Ministry, church
Next articleStonebwoy to headline All Africa Festival In Abu Dhabi On Feb 2

LEAVE A REPLY

Please enter your comment!
Please enter your name here