The International Monetary Fund (IMF) has thrown its support behind Ghana's new Energy Sector Shortfall and Debt Repayment Levy, describing it as a strategic step aligned with the fiscal objectives of the country's Extended Credit Facility (ECF) programme.
The levy, which introduces a GH¢1 charge per litre on petroleum products, is designed to help clear long-standing debts and financial shortfalls within the energy sector.
Addressing journalists at a press briefing, Julie Kozack, Director of the IMF's Communications Department, said the measure would be instrumental in tackling structural challenges while reinforcing Ghana's fiscal reform agenda. "On the fuel levy, what I can say is that this is a new measure that will help generate additional resources to tackle the challenges in Ghana's energy sector, and it is also going to bolster Ghana's ability to deliver on the fiscal objectives under the programme," she said.
The introduction of the levy has drawn sharp criticism from the Minority in Parliament, who argue it will worsen the financial burden on consumers already grappling with high living costs.
