Lawmaker Ajuamoko Enyan Essiam said in an interview with TV3, "This government does not seem to understand that the economy is in crisis.
My concern is that every day, every hour, every moment they delay, the impact on the economy is worsening, so much so that our economy is headed for collapse if we are not careful.
" So I urge the government to do the right thing, and the right thing is to sign an IMF programme."
Dr. Mark Assibey-Yeboah, a former NPP MP for New Juabeng South, also called on the government to abandon the e-tax and seek IMF assistance, saying the local economy is not in the best shape.
Dr. Assibey-Yeboah advocates for Ghana's return to the IMF and believes that a return would save Ghana's struggling economy.
"Without a doubt, we should make representations to Washington if we have not already done so. We are not going to ask for the funds just because the E-tax has been passed or not. The e-tax will only bring in about GH¢5 billion. We have a deep hole in tax revenues and we are facing difficulties, so the fund will give us some support.
"So there is nothing wrong with approaching the Fund. Ghana is a member of the IMF. So what is wrong with asking for support when we are in trouble to pool resources. If I were the finance minister, I would convince the president that it is time to go back," he told Accra-based Citi FM. Mark Assibey Yeboah added that the expected revenue from the e-tax is to ensure the economic stability the government is seeking.
He also doubted that the government will be able to raise the targeted GH¢6.9 billion. He said the government can raise a maximum of GH¢5 billion from the controversial e-tax.
"The target of GH¢6.9 billion cannot be achieved. There are many exemptions, so I estimate that we can get a maximum of GH¢5 billion from the E-tax, and that is less than a billion dollars. So I do not think the E-tax will be a panacea for our revenues. Going to the IMF will provide some stability and most importantly we will receive about $3 billion."
However, the communications director of the ruling New Patriotic Party (NPP), Yaw Buaben Asamoa, disagreed with him. Speaking on TV3's New Day with Johnnie Hughes on Wednesday, February 2, he explained that when the National Democratic Congress (NDC) went to the IMF in 2015, the government of the day received $ 913 million to support the economy.
Buben Asamoa, a former MP for Adentan, said the proposed e-tax in the 2022 budget, if passed, will generate more than $1 billion for the government, so there is no need to go to the Bretton Woods Institution for support.
"That's [Assibey-Yeboah's] opinion, he's entitled to it, but I am not going to agree with him," he said. When the NDC went to the IMF in 2015, the 16th time we went to the IMF, they received $930 million. The performance target was: cut spending, cut waste. Those are the performance measures. Over three years, $913 million, less than a billion dollars. The e-tax can bring in a billion dollars.