Ghana Imposes Fuel Levy to Tackle Energy Debt Crisis

Ghana's President Mahama announced a new GHC 1 levy on fuel, effective immediately. This decision comes in response to a substantial debt burden within the nation's energy sector, estimated at over 3.1 billion USD. The levy, approved by Parliament yesterday, is projected to generate an additional 5.7 billion cedis annually. "This decision, though difficult, is necessary," stated President Mahama in a press address. "We must take advantage of recent gains created by appreciation in the value of our currency to accelerate the solution to our energy sector challenges." The government assures the public that the funds will be strictly used to reduce the existing debt, finance fuel purchases, and avert potential power shortages. Regular audits and public reporting will ensure transparency in the use of these funds. This initiative represents a decisive step towards stabilizing Ghana's energy sector and promoting economic growth.