Ghana plans VAT hike and debt swap to tackle worsening crisis

Christian Akorlie and Cooper InveenAccra — Ghana will freeze the hiring of public servants and extend a moratorium on government car purchases and non-essential travel in order to tackle a spiralling debt crisis, finance minister Ken Ofori-Atta said on Thursday.

The minister is negotiating a relief package with the IMF as the cocoa, gold and oil-producing nation faces its worst economic crisis in a generation. “The government and the IMF have agreed on programme objectives, a preliminary fiscal adjustment path, debt strategy and financing required for the programme,” he said, adding he hopes to reach a deal “very soon”.

The government will also ban the use of V8 and V6 engine vehicles and extend a 50% reduction on fuel allocations and a ban on non-essential travel.

Source: News Formal (newsformal.com)

Politicians do everything to make their voters poorer. Fire half of them then you don't need n hike in vat

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