Economist and political risk analyst, Dr Theo Acheampong has said that the current debt exchange programme is only a part of a “bigger structural reform.”

Speaking on JoyNews’ Newsfile, on Saturday, the economist said that government has failed along the lines of communication, in that it has not been able to explain clearly to citizens that its initiative goes beyond just the debt restructuring.

“I thought the government is on the communication strategy. But they haven’t carried the people along and able to explain it in a way and manner that allows people to understand that it’s not really just restructuring the debt but it’s going to a bigger set of structural reform.”

https://youtu.be/3V9Y00tgT-I

Comparing Ghana’s programme to that of Jamaica, Dr. Acheampong listed four factors that, underpinned Jamaica’s success, amongst them communication, which he said the government of Ghana has failed in that regard.

He affirmed that the government would need to undergo “extra consultation” processes and be “forthcoming in explaining the issue to Ghanaians.”

“The important point is to mention here that extra consultations would need to be had and the government needs to be very much forthcoming in explaining the issues to Ghanaians, particularly on the point that the institutional shareholders clearly would lose out.”

He recommended that communication should be targeted at addressing “the issue of burden sharing”.

The economist revealed also that the manner of communication on the domestic debt restructuring programme has impeded the progress of International Monetary Fund (IMF) negotiations.

Meanwhile, government is hoping to reach an IMF staff-level negotiation before representatives of the IMF leave the country.

According to a report by Reuters, a deal is possible by Tuesday.