Ghana's Return To IMF: Any Deal Before 2023 Budget Will Not Be In The Country's Best Interest – Dr Ato Forson

• The Minority spokesperson on Finance, Dr Cassiel Ato Forson, says the country risks being at the losing end if it rushes through the IMF negotiations
• According to him, securing an IMF deal before the presentation of the 2023 budget will be disastrous for the country and its interests
• His caution comes at a time an IMF team is in Ghana holding another round of negotiations on a $3 billion bailout for the country

The Ranking Member of Parliament's Finance Committee, Dr Cassiel Ato Forson, has cast doubt on the country's ability to successfully negotiate a programme with the International Monetary Fund (IMF) within the shortest possible time.

The Ajumako-Enyan-Essiam MP believes that a deal with the Bretton Woods Institution within the next six weeks will spell disaster for the country.

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The caution from the economist comes amid optimism from government officials that a deal will be agreed with the IMF before the budget presentation in November.

But speaking to Accra-based Citi FM, Dr Ato Forson said any deal reached with the IMF before the reading of the 2023 budget will not be in the country's interest.

"I doubt in the next six weeks we are going to have a programme. That will be a magic of a lifetime. It will mean we are just going to be yes men and accept everything they say," he said.

An IMF team is currently in the country, holding further talks with government officials about Ghana's economic programme.

The discussions being led by the Finance Minister, Ken Ofori-Atta, are expected to negotiate a $3 billion support programme which will stem the tide of the cedi-dollar depreciation and arrest the high inflation rate that has led to skyrocketing prices of goods and services.

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Even before the conclusion of negotiations, there are fears that the restructuring of Ghana's local-currency debts will jeopardise the fortunes of the banking and finance industry.

IMF Bailout: Isaac Adongo Doubts Ofori-Atta Would Get Ghana A Good Financial Programme

Earlier, YEN.com.gh reported that the Bolgatanga Central MP, Isaac Adongo, had cast doubts on Ken Ofori-Atta’s ability to negotiate a suitable International Monetary Fund (IMF) deal for Ghana.

In the view of the MP, because the minister has publicly stated that an IMF deal was terrible for the country, he won’t do an excellent job for the country now that he has been directed to negotiate the deal.

Source: YEN.com.gh