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Ken Ofori-Atta, the Minister of Finance has warned of dire consequences if Ghana fails to secure a deal with the International Monetary Fund (IMF) by March.

This comment has, however, been downplayed with some Economists insisting that the economy won't collapse as it's being suggested by the Finance Minister.

The Dean of the University of Cape Coast Business School, Prof John Gatsi is confident the economy won’t crash.

“Now we are saying that if they don’t get the IMF deal in March the economy will collapse, collapse how? Because there is nothing in the government arrangement that shows that we are in a dire economic situation and that if we don’t sign the IMF deal by March we will collapse. The expenditure arrangements do not reflect that,” he noted.

However, NPP flagbearer hopeful and former Energy Minister, Boakye Agyarko says looking at the economic indices, it will be dangerous to trivialise, Ofori-Atta's claim.

"Whether we like it or not this is our current situation . . . we shouldn't joke with this . . . our net foreign asset is negative . . . the situation is frightening . . . if our Finance Minister is saying our current situation is critical, and that the economy will crash if we don't get the IMF loan by March we shouldn't see it as a threat . . . .whatever we have to do as Ghanaians to take hold of the situation to avoid a crash, we need to do it . . . " he said on Peace FM's 'The Platform' programme.