IMF deal won’t be closed by end of March – Ato Forson

Minority Leader, Dr. Cassiel Ato Forson says there’s a bleak possibility of closing a deal Ghana is seeking from the International Monetary Fund (IMF) by close of March, 2023.

According to him, the processes that will lead to the consideration of the financial aid ahead of a possible approval is yet to commence.

He believes the President is jumping the gun by believing there may be a closure of the deal this month considering that there may only be some certainty after China agrees to give Ghana a debt financing assurance and that has still not happened yet.

“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,” he said.

The government renegotiated its domestic debt after going to the Bretton Woods Institution for a 3-billion dollar bailout.

The President, during the 2023 state of the nation address expressed confidence that China is cooperating to facilitate the conclusion of the IMF bailout by March ending.

WA