The International Monetary Fund (IMF) has backed Ghana’s newly introduced GH¢1 per litre fuel levy, describing it as a vital step toward stabilizing the country’s energy sector and meeting its fiscal targets under the Extended Credit Facility (ECF) programme.
IMF Communications Director, Julie Kozack, told journalists the measure will raise critical revenue to address longstanding debts and inefficiencies in the energy sector.
“This new levy will help generate additional resources to tackle structural challenges in Ghana’s energy sector and support the government’s broader fiscal goals,” she said at a press briefing.
The levy, officially titled the Energy Sector Shortfall and Debt Repayment Levy, has, however, faced stiff opposition. The Minority in Parliament has criticized it as an added burden on already cash-strapped citizens.
Government, in response, argues that the consumer impact will be minimal, citing relatively lower fuel prices compared to past high-inflation periods.
Following consultations with the Chamber of Oil Marketing Companies, the levy’s implementation date has been pushed from June 9 to June 16, 2025.
Meanwhile, stakeholders like the Chamber of Petroleum Consumers are calling for better engagement and transparency on how the funds will be utilized during this grace period.
