Terkper predicts IMF likely to cancel Ghana's debt | 3News.com

Former Finance Minister, Mr Seth Terkper has projected that the programme the the Akufo-Addo Addo administration is seeking under the (IMF) is likely to lead to debt reliefs, whether partial or total debt forgiveness.

Mr Terkper further indicated that the programme is also likely to tackle government’s revenue and expenditure given the growing debt situation.

Asked the nature of programme Ghanaians should expect from the ongoing IMF engagement while speaking on the Ghana Tonight show on TV3 with Alfred Ocansey on Monday September 26, Mr Terkper who led the team to engage the Fund during the Mahama administration said “I think this is the 17th programme,  I think it will be a mixture of a programme in the context of heavily indebted poor countries [HIPC] when you had a lot of debt reliefs, it could be that.

So this programme will also tackle revenue, it will tackle expenditure”

A key prerequisite for a programme is confirmation that Ghana’s debt is on a sustainable path.

A statement issued by the Finance Ministry on Monday September 26 said the Government of Ghana is putting together a comprehensive post Covid-19 economic programme which will form the basis for the IMF negotiations.

“The programme seeks to establish a macro-fiscal path that ensures debt sustainability and macroeconomic stability underpinned by key structural reforms and social protection.