March 2, 2024
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IMF bailout: List of issues to be discussed at Day 2 of talks

As talks enter the second day, Ghanaians are looking to hear the outcomes of what has ensued as far as a financial bailout is concerned.

Government is currently at the doors of the International Monetary Fund (IMF) engaging over possible assistance to prevent the economy from crashing further.

The Fund’s officials – led by Mission Chief for Ghana, Carlo Sdralevich – arrived in Ghana on Tuesday and held introductory deliberations with stakeholders including the Vice President, Dr Muhamadu Bawumia on July 6.

All these transpire as the fate of Ghana’s financial future is tabled for discussion amid the hue and cry from the public over the ever-increasing cost of living.

The meeting, so far, has been pivoted around expenditure, market reserve management, domestic arrears, expenditure controls and fiscal reporting.

Sources say most of today’s edition will be hinged on data gathering and reconciliation.

This assessment will encapsulate both domestic and external debt.

Subsequently, the team will look at the design of the e-levy, estimated yield, the mobilisation measure and the nature of its implementation.

Fiscal returns for the first half of the year and the 30% expenditure cuts, financial sector payments, the wage bill and internally generated funds will be high on the agenda.

The negotiators will also deliberate on the Benchmark Value reversal and estimated yield by imports including duties, Value Added Tax (VAT), among others.

It may also consider updates on the implementation of other tax measures including property and eCommerce taxation.

Meanwhile, the IMF has already communicated its intention to help Ghana “to restore macroeconomic stability, safeguard debt sustainability, and promote inclusive and sustainable growth, and address the impact of the war in Ukraine and the lingering pandemic.”

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