29th September 2022 11:21:06 AM
1 min readThe minority party's spokesperson on finance, Cassiel Ato Forson, has questioned the government's motivation to reach an agreement with the IMF prior to the preparation of the 2023 budget.
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“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.
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In his view, any deal before the 2023 budget will not be in Ghana’s interest.
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“It will mean we are just going to be yes men and accept everything they say,” said Mr. Forson.
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The Director of Strategy and Business Operations at Dalex Finance, Joe Jackson, however, said he was willing to give the Finance Minister some benefit of the doubt.
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He added that the targets are aggressive, but both parties are operating with an awareness of the urgency of the situation.
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“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.
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An IMF team is in Ghana until October 7 to continue discussions with the government on policies and reforms that could be supported by a lending arrangement.
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The Ministry of Finance and the Bank of Ghana have commenced a comprehensive debt sustainability analysis with the IMF for a $3 billion support programme.
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The meeting with the IMF comes amid concerns that Ghana is about to start talks with domestic bondholders on a restructuring of its local-currency debt.
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