A former Minister for Finance, Seth Terkper, has cast doubt on the government’s ability to secure a deal with the International Monetary Fund (IMF) by the end of March.
This comes on the back of the government setting an ambitious target of getting a board-level agreement with the IMF by the end of March 2023.
But speaking on the Morning Starr with Francis Abban, Terkper stated that Ghana still has set outstanding obligations and targets it must meet before the board-level agreement can be approved.
“As far as I know and from experience, it may be difficult, and the reason is, in that communication, there are conditions that involve the Domestic Restructuring and the External Debt Restructuring. We know that we have come to sign an agreement with the domestic debtors.
“Now, as far as I know, with the external, we are in a negotiation with the Chinese, and there isn’t any communication yet; I stand to be corrected with respect to other external creditors,” the former Finance Minister stated.
He continued: “Notably those institutions who formed the committee, if you recall, with respect to our external bonds. So a precondition for a debt restructuring, I don’t think that we are within the eleven days from what I know of accomplishing it.”