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The Minister of Finance Dr. Cassiel Ato Forson is engaging with the International Monetary Fund (IMF) to have a better understanding of Ghana’s economic outlook to design the best policy direction for the 2025 budget.
The engagement which started yesterday is expected to run for five days from February 10 to February 14, 2025.
So far, citinewsroom.com is reporting that tax cuts, revenue administration reforms, energy sector debt management, expenditure controls, and exchange rate stabilization have been the dominant focus of the discussions.
With the new government keen on scrapping nuisance taxes such as E-Levy and betting tax to ease fiscal pressures, it is reported that cancelling these taxes happen sooner than later.
Dr. Forson is expected to present the 2025 budget in March, and the outcome of these IMF talks could impact Ghana’s policy direction.
When these taxes will be cancelled?
However, as the National Democratic Congress (NDC) had it in its election manifesto to scrap both the E-Levy and betting tax, hence, Dr. Forson, who has argued the tax has “failed,” is not expected to make a reversal in their stand.
After these talks and in line with his initial promise of cancelling these taxes in his first budget during his vetting, Pulse Ghana understands that the E-Levy and betting tax will likely be cancelled in March 2025 when the budget will be presented to parliament.
The IMF Mission Chief for Ghana, Stéphane Roudet, is in charge of the talks. She will evaluate Ghana's development and collaborate with government representatives to improve fiscal policies in advance of the 2025 budget presentation.