Ghana: Another Bailout Won’t Solve Ghana’s Economic Crisis

As debt soars, Ghana must take ownership of its financial troubles, starting with slashing public expenditure.

Ghana’s economic woes continue as the country seeks International Monetary Fund (IMF) support for the 17th time. The bailout was necessary after the new electronic transaction levy (e-levy) – a 1.5% tax on all electronic transfers above GHS100 – failed to yield the expected results.

Previous IMF programmes have improved macroeconomic stability in Ghana. Fiscal discipline in the country…