IMF Supports Ghana's Energy Sector Levy Increase

By Mavis Emefa Goka / June 13, 2025

The International Monetary Fund (IMF) has commended the government's recent decision to increase the Energy Sector Levy on petroleum products in Ghana, describing it as a prudent move. This development underscores the IMF's support for the government's efforts to strengthen the country's energy sector and fiscal stability.

The International Monetary Fund (IMF) has expressed support for Ghana's recent decision to increase the Energy Sector Levy, citing its potential to reduce energy sector debt and improve the country's fiscal deficit.
 
According to IMF Director of Communications Julie Kozack, "This new measure will help generate additional resources to tackle challenges in Ghana's energy sector." The IMF views the initiative as a positive step towards addressing Ghana's fiscal challenges.

On Thursday, June 5 2025, President John Mahama signed the Revised Energy Sector Levy (Amendment) Bill 2025 into law, after parliamentary approval. The Ghana Revenue Authority (GRA) was set to enforce the levy starting June 6, 2025, but due to implementation concerns raised by the Chamber of Oil Marketing Companies, the GRA deferred its introduction to July 16, 2025.

Due to these new revisions, consumers of petroleum products will be paying GH¢1.96 as the revised Energy Sector Shortfall and Debt Repayment Levy on each litre of fuel sold at the pumps.
The Chamber of Oil Marketing Companies (COMAC) warned that enforcing the levy will result in the average price of petrol moving from GH¢11 per litre to about GH¢13 per litre. 

The IMF however believes this initiative will is a positive step towards addressing Ghana's fiscal deficit.

Speaking during the Conference the IMF Director of Communications Julie Kozack also stated that the IMF Board will consider Ghana's Fourth Review report under the Extended Credit Facility arrangement in early July 2025. If approved, Ghana will gain access to $370 million, increasing the total IMF financial support to $2.355 billion since May 2023.