Seek interest of vulnerable citizens in IMF deal – KPMG tells Gov’t
Auditing and accounting firm, KPMG Ghana is urging government to seek the interest of vulnerable citizens in the yet-to-be-agreed economic programme with the International Monetary Fund (IMF).
Government has indicated that progress has been made in the quest to seek a programme support before the end of the year to re-inject confidence into the economy.
Speaking in an interview with media persons, Senior Partner at KPMG Ghana, Anthony Sarpong, cautioned that many people are likely to fall into the poverty line due to the ongoing crisis, hence the need for a programme that supports the vulnerable in society.
“A short term measure is to ensure that whatever programme that government agrees with the IMF protects the vulnerable, one will expect that the vulnerable are protected because currently due to the crises, many people are falling into the poverty zone and therefore any measure that doesn’t protect the poor and vulnerable will not go well with the country,” he said.
Mr. Sarpong is of the view that it is time for government to undertake austerity measures that will have the vulnerable as a priority.
“Government must take austerity steps to contain the situation and we hope that such measures are taken with the poor and vulnerable considered.
“In the medium to long term, we will also expect government to focus on revenue growth thus through taxation” he added.
Ghana’s headline inflation rose to 40.4 percent as at October 2022 amid a fast depreciating currency against major trading currencies on the globe.
The high inflation rate is having adverse impacts on the living conditions of Ghanaians.
Ghana is going to the IMF for the 17th time for an economic programme support since it joined the Bretton Wood institution.
This has become necessary after one of government’s flagship revenue mobilization measures, E-Levy, in the 2022 budget failed to give the projected revenue as well as the closing down of toll booths which also generated some funds to support government.
