Don’t Blame the IMF for Your Tariff Increments – Kofi Tonto Chides Government
Kofi Tonto Tells Government: Don't Pin Tariff Hikes on IMF
- Mr. Tonto emphasized that the IMF’s directive for a tariff review does not equate to mandatory increases.
- He further debunked the notion that the IMF imposes harsh tariff increments
- He urged the public to scrutinize the facts and not fall for political rhetoric
Political aide to former Vice-President Dr. Mahamudu Bawumia, Kofi Tonto, has called out the current government and the National Democratic Congress (NDC) for what he describes as a deliberate attempt to mislead Ghanaians into believing that electricity tariff increments are mandated by the International Monetary Fund (IMF).
In a statement seen on his Facebook wall, Mr. Tonto emphasized that the IMF’s directive for a tariff review does not equate to mandatory increases.
According to him, while the IMF encourages a realistic reflection of production costs in utility pricing, the government retains full control over how and when tariffs are adjusted.
“Do not allow anyone to lie to you that IMF adjustments necessarily mean increments. It does not!” he declared.
“The IMF’s call for review does not automatically mean an increment. It is a call to ensure that tariffs are realistic and sustainable.”
Citing the first quarter of 2024 as an example, Mr. Tonto noted that the previous NPP-led administration did not raise electricity tariffs—in fact, tariffs were reduced for both residential and non-residential consumers. Water tariffs remained unchanged.
He further debunked the notion that the IMF imposes harsh tariff increments, referencing a precedent under the Akufo-Addo administration.
“In 2018, under an IMF program, Akufo-Addo decreased tariffs by 17.5%. So how could it be that the IMF only demands increases? The evidence simply doesn’t support that claim,” he said.
Mr. Tonto contrasted the NPP’s approach with the NDC’s recent adjustments, pointing out that while the overall tariff increase under the NPP for 2024 was 6.47%, the NDC has increased it by a sharp 14.75%.
He urged the public to scrutinize the facts and not fall for political rhetoric that inaccurately blames external partners for local policy decisions.
“There is science behind tariff reviews, yes—but there’s also a responsibility to apply a human face to the decisions. That’s what the NPP demonstrated, and that’s what must continue,” he concluded.
