The Minority in Parliament has indicated that the government cannot secure board approval for the $3 billion dollars International Monetary Fund’s (IMF) deal at the end of March 2023.
According to the Minority, the government will be lucky if they are able to even have a deal by the end of April 2023.
This comes on the back of President Akufo-Addo’s assurance to Ghanaians that the government will secure a deal with the IMF by the end of March 2023.
Commenting on the IMF program as part of debate on the State of the Nation Address on Friday, the Minority Leader, Dr Cassiel Ato Forson disagrees with the President.
“Mr Speaker, our President said on authority that Ghana would get an IMF Board approval by the end of this month, I don’t know who is briefing our President, but Ghana will not be able to get an IMF Board approval by the end of this month because even the board documents are prepared.
“We need to get China to give Ghana financing assurance and that they are ready to take a haircut and China has not agreed,” Mr. Ato Foson stated.
President Akufo-Addo has said the government is gradually fulfilling the terms outlined by the IMF in order to secure a deal by the end of March.
President Akufo-Addo mentioned the success of the Domestic Debt Exchange Programme (DDEP) and other factors as good signals in securing the IMF deal.
“I am confident with the cooperation we’re receiving from members of the Paris Club and the People’s Republic of China, which has sent a delegation from China’s Exim Bank to Accra over the weekend to meet with officials of the Ministry of Finance, we shall be able to go to the board of the fund to conclude finally the agreement by the end of March,” he said.