Vice President of think-thank IMANI Centre for Policy and Education, Bright Simons, has questioned government over its celebration of an International Monetary Fund (IMF) agreement when the consequences will be damning on the ordinary citizen.

Mr Simons expressed concern following what he describes as "feel-good story" by the Finance Ministry and a report by Blomberg on Ghana's debt restructure situation.

A portion of a recent Bloomberg report that spoke of a moratorium won by Ghana with official creditors on debt payments read "Ghana’s pact, finalized in just over a year, has been hailed as one of the quickest under the Group-of-20 Common Framework for Debt Treatment."

In an opinionated article, he noted that while the Finance Minister continues to laud himself outside the shores of the country, in Ghana, Mr Ofori-Atta's resignation has become topical again.

"Ghana’s Finance Ministry has been on a roll lately. Hardly a day goes by without them releasing another feel-good story about the country’s protracted debt restructuring effort or its three-year IMF program, now in its eighth month. The latest is this big Davos splash by Bloomberg.

At home, people seem to have tuned off. The trending Finance Ministry story is a ruling party grandee expressing the age-old hope in his circles that the Finance Minister will resign soon to lift the party’s image among the public, and, obviously, his party’s chances in the upcoming general elections (December 7th, 2024)," he wrote.

Mr Simons believes there is a disparity between international engagements and the tangible positive effects or celebrations within Ghana.

Shedding more light on this assertion, Mr Simons explained that "The IMF is desperate to hoist Ghana as evidence of the effectiveness of its treatments. The “international system” needs some success stories for development multilateralism, to vindicate programs like the Common Framework, which Ghana initially rejected (just as it earlier, flatly, refused to enter another IMF program) before jumping on board; Western powers, whose favour Ghana has curried more aggressively of late, need Ghana to preserve its “West African oasis” narrative; and global investors exposed to Ghana, such as Eurobond holders, are keen to see the value of their assets recover."

"At home, on the other hand, the citizenry demands more than a “turnaround” story. Those abreast with the technical details are much too aware of the spin. Whilst the ordinary masses simply can’t square these jamborees about “moratoriums” and “IMF Board reviews” with their daily reality of a high cost of living, corruption scandals, and a clear turn for the worse on the basic infrastructure front," he added.

In a tweet in reaction to his views on the matter, he asked Ghanaians in which part of the country will they be celebrating the IMF and debt restructuring initiatives which is to help save the dying economy.

"Ghana people, government heavyweights are being toasted in Davos for all the great news about the IMF program being churned out. And much lip-smacking is happening on account of another $600m tranche due. But at home, where the party at?" he quizzed.

President Akufo-Addo together with Minister for Foreign Affairs, Shirley Ayorkor Botchway; Minister for Finance, Ken Ofori-Atta; along with officials from the Foreign Ministry and the Presidency is in Davos for the 2024 World Economic Forum Annual Meetings scheduled from Tuesday, January 16, to Friday, January 19.