Ghana’s revenue reforms failing structural test  – Prof Godfred Bokpin

Ghana in 2023 established the National Revenue Policy (GNRP), guided by the Medium-Term Revenue Strategy (MTRS) to close its tax-to-GDP ratio, which the Ministry of Finance noted has remained at around 12-14 per cent since 2015.

While the just-ended US$3 billion IMF-loan-supported programme was to help bridge the gap, the professor of Finance at the University of Ghana Business School (UGBS) noted that the country's tax-to-GDP has averaged 14 per cent during the implementation period.

Prof Bokpin explained that the domestic revenue performing below the expectations implied that reforms had not meaningfully strengthened the revenue base despite years of IMF-guided policy changes.