The Finance Ministry says it is poised to lessen the impact of the intended financial restructuring on the stakeholders in the country.
According to the Director of the Ministry’s Financial Sector Division, the plight of affected parties will be prioritised as government engages with the International Monetary Fund (IMF) on the approach to the debt readjustment.
Samson Akligoh assured that "no decision will be taken without external conversations… It is important that nothing is done to compromise the banking system and destroy people's confidence in the banking sector as a whole."
He, however, fell short of highlighting whether the government is likely to settle for a domestic or external debt restructuring modality.
This comes on the back of concerns raised by experts on the propensity of a purely domestic restructuring modality to do very little in rescuing the economic downturn.
Institutional investors, financial institutions, and pension funds rank amongst the hardest hit by the intended debt restructure.
As Ghana wallows in an ailing economy, experts are banking their hopes on external economic restructuring measures to help salvage the situation.
But speaking on Newsfile, Samson Akligoh explained that the Finance Ministry has all the financial sector players at the core of its IMF talks and will be industry-led.
"I understand why the analysis will say this... But if you're within the Ministry of Finance the job is that you have to do whatever you can to minimise the impact so that the economy is not disrupted."
He also admitted that "yes, we have a difficulty. But it is not something that we cannot sail through."
Latest Stories
-
19 steps for getting over even the most devastating breakup fast
3 hours -
8th Ghana CEO Summit launched with focus on AI transformation, economic diversification
3 hours -
Prof Opoku-Agyemang has not been given a fair appraisal – Ablakwa
4 hours -
Rainstorm wreaks havoc in Keta and Anloga districts, residents count their losses
4 hours -
Global Plastics Treaty negotiations begin in Ottawa as countries converge on phasing out problematic plastic uses
4 hours -
Support energy alternatives adoption to sustain businesses – GUTA tells government
4 hours -
11th DRIF opens in Accra with a call on governments to focus on digital inclusion
4 hours -
Stakeholders outline plans at RE4C Coalition’s General Assembly in Accra
4 hours -
Women Need ‘shock observers’ for active political participation – Ex-Bauchi Assembly Member
4 hours -
2024 polls: Stop fighting over positions in Mahama’s next government – Asiedu Nketiah
4 hours -
Although people may not always listen to the lyrics, there’s still a market for rap in Ghana – E.L.
5 hours -
Passengers appeal to transport operators to officially announce new fares
5 hours -
Damongo: About 400 NPP Members resign over Minister’s alleged meddling in chieftaincy affairs
5 hours -
Next NDC government will pay special attention to women – Naana Opoku-Agyemang
5 hours -
Amerado is singing and it’s good he’s doing that – Lyrical Joe
5 hours