A bitter pill that must be swallowed because Ghana is broke – Joe Jackson

A financial expert has said the government’s unwavering posture in having the controversial e-Levy implemented is because the country is broke.

According to Mr. Joe Jackson, Director of Business Operations at Dalex Finance and Leasing Company, the e-Levy is a bitter pill that must be swallowed because the country’s economy is in crisis.

“When some of us told them that the country is broke, they called us names…some even went ahead to brand some of us nation wreckers,” Mr. Jackson said on the Ghana Yensom morning show on Accra 100.5 FM on Tuesday, January 25, 2022.

He urged Ghanaians to brace themselves for the implementation of the controversial e-levy stressing that “e-Levy is a quinine tonic that must be drunk at all cost because the country is currently broke”.

Mr. Jackson stated that the country has long been broke before covid-19.

In his view, the pandemic only came to blow the cover on how broke Ghana is.

He akin Ghana’s economic situation to an employee who earns GHS1000 as a monthly salary and has borrowed to the levels that he uses GHS500 to service the interest on his borrowings leaving the principal.

“Last year alone, the money Ghana got by way of taxes, donations, among others, 50 per cent of all these funds were used to service interest on loans,” he bemoaned.

He cautioned the government to be measured in borrowing for things to get better.