Alexander Afenyo Markin
THE MEMBER of Parliament for Efutu, Alexander Afenyo Markin, has refuted claims by some section of Ghanaians that the government’s call on the IMF for a bailout amounted to failure by the managers of the economy.
He said considering the clean-up undertaken by government in the country’s banking sector, the payment of subsidies to farmers and the servicing of debts, the government has been transparent to Ghanaians about the IMF support, in spite of the criticisms it has received.
Speaking on Joy FM’s news analysis and current affairs programme ‘News File’ Saturday, the legislator said the NPP government had not introduced any major tax since assumption of office in 2016, until the Electronic Transfer Levy (E-Levy) was introduced. However, this failed to yield the expected revenue, hence the need to be open to Ghanaians about the situation confronting the country.
He said, “But we are not getting the needed revenue, government has been open to say that because of this situation, we need to rely on an external party that is the IMF. Is it wrong going there? No, it depends on the conditions taking you there.”
He also mentioned that government, in an attempt to salvage the economy, did not sit aloof but made effort to address the situation.
“It is not the case that this government folded its arms, has incurred debt and all that. No, that is not the argument. If you look at all the numbers pre-COVID, we were doing better. We were compelled to rely on our own internal policies, believing that we were going to have a smooth ride,” he pointed out.
He further indicated that the focus of government before and after COVID-19 was to reduce the burden of the ordinary Ghanaian, resulting in the reduction of some taxes and the introduction of policies like the Free SHS.
Afenyo Markin, who is also the Deputy Majority Leader, explained that the move by government for an IMF support is meant for the IMF to offer Ghana a reliable financial programme.
“Until the introduction of the E-Levy, the NPP government had not done any major introduction of taxation. The first major fiscal policy decision in terms of taxation is E-Levy. Introducing the E-Levy was a major decision taken by government to help get revenue to support our economy,” he added.
BY Ebenezer K. Amponsah