President Akufo-Addo is being mislead about the likelihood that the administration will receive an IMF Board clearance this month, according to the Minority leader, Dr. Cassiel Ato Forson,

He said that the procedure that would result in the IMF Board considering Ghana's request had not yet begun.

According to Dr. Ato Forson, these procedures won't begin until China consents to provide Ghana with a debt financing assurance.

Akufo-Addo

However, the Ajumako Enyan Essiam MP said China is currently not ready to accept the haircut being proposed by the Ghanaian government.

“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

“We need to get China to give Ghana financing assurance and that they are ready to take a haircut and China has not agreed,” he said in Parliament on Friday, March 17.

Ghana is currently before the Bretton Woods Institution for a $3 billion bailout.

As a result, the government has renegotiated its domestic debt and on course with the foreign partners as well.

Due to this, President Akufo-Addo during the 2023 state of the nation address was confident the government can secure the deal by the end the month.

According to the President, the government is systematically fulfilling the terms of the staff-level agreement reached with the IMF.

“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.

But the Minority Leader said Ghana is not likely to clinch a deal with the IMF in March and would be lucky to get a deal in April.