IMF deal before 2023 budget would be bad for Ghana – Cassiel Ato Forson

Politics IMF deal before 2023 budget would be bad for Ghana – Cassiel Ato Forson
SEP 30, 2022 LISTEN

The Minority spokesperson on Finance, Cassiel Ato Forson, has cast doubts on government’s intent to secure a deal with the IMF before the 2023 budget is prepared .

“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.

In his view, any deal before the 2023 budget will not be in Ghana’s interest.

“It will mean we are just going to be yes men and accept everything they say,” said Mr. Forson.

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.

Also on Eyewitness News, he said the targets are aggressive, but both parties are operating with an awareness of the urgency of the situation.

“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.

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.

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.

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.