The minority party's spokesperson on finance, Cassiel Ato Forson, has questioned the government's motivation to reach an agreement with the IMF prior to the preparation of the 2023 budget.

“I doubt in the next six weeks we are going to have a programme. That will be a magic of a lifetime,” he said on Eyewitness News.

In his view, any deal before the 2023 budget will not be in Ghana’s interest.

“It will mean we are just going to be yes men and accept everything they say,” said Mr. Forson.

The Director of Strategy and Business Operations at Dalex Finance, Joe Jackson, however, said he was willing to give the Finance Minister some benefit of the doubt.

He added that the targets are aggressive, but both parties are operating with an awareness of the urgency of the situation.

“Unless somebody shows me any reason that the team is not going to work day and night to achieve that target, I will be cautiously optimistic,” Mr. Jackson said.

An IMF team is in Ghana until October 7 to continue discussions with the government on policies and reforms that could be supported by a lending arrangement.

The Ministry of Finance and the Bank of Ghana have commenced a comprehensive debt sustainability analysis with the IMF for a $3 billion support programme.

The meeting with the IMF comes amid concerns that Ghana is about to start talks with domestic bondholders on a restructuring of its local-currency debt.