Former Finance Minister, 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 in an interview, Terkper stated that Ghana still has set an 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 which 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.”