Gabby explains why money market is jittery about Ghana

A leading member of the New Patriotic Party (NPP) Gabby Asare Otchere-Darko has expressed worry over the uncertainties on Ghana’s revenue mobilisation efforts in recent times.

He argues that the opposition to the introduction of the e-levy and benchmark reversals creates a worrying situation for the country.

Gabby Asare Otchere-Darko asserts that the nasty nature of Ghana’s hung Parliament are all contributing to make the money market jittery about Ghana.

To him, these efforts made to stifle revenue generation will be detrimental to the country and it’s worrying that the opposition is just for some persons to score political points.

His post shared on social media said “Uncertainties on our revenue mobilisation efforts, including e-levy and benchmark reversals, the nasty nature of our hung parliament are all contributing to make the money market jittery about Ghana. The consequences of our internal points-scoring are greater and against us all”.

Ghana’s opposition party the National Democratic Congress (NDC) has kicked against a move by the Government to introduce the e-levy of 1.75%. To them, the introduction of the e-levy will visit untold hardship on the people of Ghana.

Also, due to opposition, President Nana Addo Dankwa Akufo-Addo has ordered the reversal of the benchmark value discounts introduced to cushion Ghanaians against price hikes. At a meeting with officials of the GRA and other stakeholders, the President gave a deadline of January 17 for all consultations to conclude.

The President says the move will help all players understand the policy before it is rolled out. The GRA on January 4th announced the implementation of the policy despite stiff opposition from industry players.