Ghana to host African conference on domestic revenue mobilization

ACCRA, April 3 (NNN-GNA) — Ghana’s Ministry of Finance (MoF), in co-operation with the African Center for Economic Transformation (ACET) and the International Monetary Fund (IMF), will organize a conference on “Moving Beyond Aid: Domestic Revenue Mobilization” for G-20 Compact with Africa (CWA) countries.

The two-day conference, to be held here on Wednesday and Thursday will bring together senior government officials and representatives of revenue agencies from eight countries — Benin, Côte d’Ivoire, Egypt, Ghana, Guinea, Rwanda, Senegal, and Tunisia.

The organizers said in a media statement here Monday that various development partners, experts and representatives of civil society would also attend the conference which will provide Compact with Africa (CWA) countries a common platform for knowledge sharing and peer-to-peer learning on revenue mobilization as well as ways to overcome aid dependence, ease financing constraints, and enhance growth prospects – all key elements to achieve prosperity without jeopardising debt sustainability.

The conference will also help CWA countries deal with institutional and political constraints in revenue mobilization, improving tax compliance, and alleviating base erosion and profit shifting by multinational companies.

It will focus on common domestic revenue mobilization (DRM) challenges and propose short and medium-term growth-friendly revenue-enhancing solutions.

The CWA was initiated by the German Presidency in the Finance Track, endorsed by the Group of 20 (G-20) Finance Ministers and Central Bank Governors in Baden-Baden, Germany, in March 2017, to promote private investment in Africa, including in infrastructure.

The CWA initiative aims to attract private investment to the CWA countries by ensuring macro-economic stability, investment-friendly tax systems to help maintain fiscal discipline, while providing adequate financing for governments’ development needs.

Source:NAM News Network

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