Former President John Dramani Mahama fears further delay on the part of government to secure a deal with the International Monetary Fund will further worsen the country’s economic situation.
Ghana returned to the IMF for support after months of struggle with the economy and a cost of living crisis.
The former President in a tweet said the economic situation is distressing.
“Every passing day makes our economic situation worse”.
Distressing! Every passing day makes our economic situation worse. Gov’t must work with greater alacrity to lock in a programme with the Fund in order to create a more predictable economic outlook.
— John Dramani Mahama (@JDMahama) October 4, 2022
He urged government to “work with greater alacrity to lock in a programme with the Fund in order to create a more predictable economic outlook.”
The formal negotiations for a Fund-supported programme have begun, with the IMF team currently meeting government officials for a period of ten days.
Talks have begun on a comprehensive debt sustainability analysis with the IMF for a US$3 billion support programme.
Finance Minister, Ken Ofori-Atta on Wednesday, September 28, 2022, said government will fast-track negotiations with the International Monetary Fund (IMF) to ensure key aspects of the programme are reflected in the 2023 budget statement.
Meanwhile, some economists have cast doubt on the possibility of concluding the IMF deal before the year ends.
