IMF deal before 2023 budget would be bad for Ghana – Ato Forson

Cassiel Ato Forson, the minority spokesperson on finance, has questioned the government’s motivation to reach an agreement with the IMF prior to the creation of the 2023 budget.

“I doubt in the next six weeks we are going to have a programme. That will be a magic of a lifetime,” he said on Eyewitness News.

Any agreement reached before to the budget for 2023, in his opinion, will not be advantageous for Ghana.

Read also: Hon. Terkper Predicts Imf Prone To Drop Ghana’s Debt

“It will mean we are just going to be yes men and accept everything they say,” said Mr. Forson.

However, Joe Jackson, the director of strategy and business operations at Dalex Finance, declared he was prepared to provide some wiggle room to the finance minister.

He also stated on Eyewitness News that although the targets are hostile, all parties are functioning with an understanding of the urgency of the circumstance.

“Unless somebody shows me any reason that the team is not going to work day and night to achieve that target, I will be cautiously optimistic,” Mr. Jackson said.

To continue to hold conversations with the government about policies and reforms that could be backed by a loan agreement, an IMF team is in Ghana through October 7.

See also: IMF team arrives on September 26 to hold negotiations on $3 billion loan request

A thorough debt sustainability review has been started with the IMF for a $3 billion support program by the Ministry of Finance and the Bank of Ghana.

There are worries that Ghana would soon begin negotiations with domestic bondholders about restructuring its local currency debt, which is why the IMF meeting has been scheduled.

Credit: Ayer Ceasar (Dr. Ceasar)

Source: citinewsroom.com