The International Monetary Fund (IMF) has thrown its support behind Ghana’s new Energy Sector Shortfall and Debt Repayment Levy, describing it as a vital tool for stabilising the country’s energy sector and achieving fiscal targets under the Extended Credit Facility (ECF) programme.
The levy, which imposes a GH¢1 charge per litre on petroleum products, is designed to generate much-needed revenue to address the sector’s long-standing financial shortfalls.
“On the fuel levy, what I can say is that this is a new measure that will help generate additional resources to tackle the challenges in Ghana’s energy sector, and it is also going to bolster Ghana’s ability to deliver on the fiscal objectives under the programme,” said Julie Kozack, Director of the IMF’s Communications Department.
Despite endorsement from the IMF, the levy has sparked criticism from the Minority in Parliament, who argue it further burdens already strained consumers.
The government, however, maintains that the impact on consumers will be minimal, citing current fuel prices that remain lower than levels recorded during previous inflation spikes.
To ease the rollout, an agreement with the Chamber of Oil Marketing Companies has shifted the implementation date from June 9 to June 16, 2025.
Meanwhile, energy stakeholders such as the Chamber of Petroleum Consumers are calling for deeper engagement and transparency during the extension period.