Ken Ofori-Atta, the nation's minister of finance, is upbeat about the country's progress in its pursuit of an IMF program.

Ghana has made tremendous progress, according to the Minister, even though it began the process later than other countries like Chad, Zambia, and Ethiopia, which have been working on the agreement for at least two years.

He said that Ghana had fulfilled all program requirements and urged its citizens to recognize this achievement.

In terms of this restructuring, we have literally broken all records. I think we should recognize and accept that. We began on July 1 and were able to finish our SLA in record time. The Paris Club and domestic debt restructuring have already held two meetings, and we anticipate that they will provide their guarantees in the coming weeks.

He added on Joy FM's Midday, "I think really we should we should be excited about how fast government has worked."

When asked if the administration can fulfill the deadline to get the IMF contract, Mr. Ofori-Atta replied one shouldn't be too sure about that.

In response to the government's requests for the cancellation of external debt, the Governor of the Bank of Ghana, Dr. Ernest Addison, has urged the International Monetary Fund to consider increasing concessional financing to the continent by altering the access thresholds, including extending access limits and easing eligibility requirement seeking resources from the PRGT (Poverty Reduction and Growth Trust).

This, in his opinion, will guarantee that the most vulnerable members receive prompt financial support.

We support the Fund's choice to temporarily increase the annual and cumulative restrictions in the General Resources Account (GRA) to 200% and 600% of the quota, respectively, for 12 months.

The Governor stated this at the 2023 Africa Consultative Group Meeting with the Managing Director of the IMF, Kristalina Georgieva, saying, "However, we underscore the importance of aligning PRGT access boundaries with those of the GRA, while stepping up the fundraising efforts to increase the PRGT resource envelope, to improve Fund support to PRGT-eligible members suffering severe financial issues.

The Fund has also been advised by the Governor to maintain tight ties with other international financial institutions and creditors to improve the multilateral framework for the speedy resolution of Africa's debt problems.