The country's financial system and investor confidence will be less affected by an impending debt restructuring program, according to the assurance provided by the ministry of finance.

Prior to securing a US$3 billion credit facility from the International Monetary Fund, the Government of Ghana is anticipated to start discussions with domestic or foreign bondholders in an effort to restructure the country's cedi debt.

The nation's debt, which has been rising at an alarming rate, will need to be restructured as one of the primary prerequisites for the credit arrangement.

Reacting to concerns raised by some finance experts on the potential impact of the debt restructuring exercise, Director of the Financial Sector Division at the Finance Ministry, Sampson Akligoh said government will critically consider the plight of affected parties.

“No decision will be taken without external conversations… It is important that nothing is done to compromise the banking system and destroy people’s confidence in the banking sector as a whole.”

He, however, added that key players in Ghana’s financial sector will be prioritized as government engages the IMF on a potential support programme

“I understand why the analysts will say this…But if you’re within the Ministry of Finance, the job is that you have to do whatever you can to minimise the impact so that the economy is not disrupted,” he is quoted by Joy Business.

“Yes, we have a difficulty. But it is not something that we cannot sail through,” Akligoh added.

Meanwhile, a team from the International Monetary Fund are expected to arrive in Ghana on Monday September 26 to hold official negotiations with the government of Ghana for a loan request.

According to a Reuters report, the negotiations will centre on polices and reforms that could be supported by the IMF under economic support programme for Ghana.

Ghana is targeting an amount of US$3 billion over three years from the Fund once an agreement on a programme is reached.