Ghana’s rescue negotiations with the International Monetary Fund (IMF) are in jeopardy, according to the German ambassador to Ghana.
Daniel Krull explains this by China’s reluctance to participate in potential reducing the deficit.
“The biggest elephant in the room is China. China is the largest creditor to Ghana and so far, it’s not fully supporting the setting up of the creditor’s committee where all the creditors will sit down and agree on a package for Ghana,” he stated in an interview with Joy news monitored by Ghanatodayonline.com.
According to Daniel Krull “Time is of the essence, time is running out. Without this agreement with the bilateral creditors, the IMF package is in severe danger”.
He urged lawmakers and Ghanaians with close links to China to persuade them to sit down and reach an agreement on a plan in consideration of this.
He claims that Germany is prepared to negotiate and support Ghana.
A high-ranking government team is scheduled to travel to China in March with the goal of revising $1.7 that Ghana owes that country as one of the requirements for obtaining an IMF program.
Following the forthcoming National People’s Congress of China meeting, which was slated to take place in early March, the conference with China regarding debt cancellation was postponed to late March 2023.