The majority of business leaders and economic observers expected a deal to have been reached, particularly at the recently concluded Bretton Woods meeting in Washington, where such significant decisions are made.
This would have concluded the long-awaited $3 billion government financial rescue.
China, the purported "kingmaker" in Ghana's debt crises, which holds approximately one-third of the country's external debt, negotiated from a position of strength.
Even though our Finance Minister is overly confident that China will agree to restructure our external debt, China's intransigence is a significant cause for concern.
The President has also predicted that Ghana will conclude a transaction this month. At the Spring Meeting, the country had also received a whirlwind of support, with many countries promising to assist it cross this bridge.
During her three-day visit to the country, US Vice President Kamala Harris added her voice to international demands for assistance with the country's debt crisis.
David Malpass, president of the World Bank Group, was quoted as saying during a press conference at the Spring Meeting that China's insistence that multilateral lenders such as the World Bank and the International Monetary Fund (IMF) should share losses from ongoing debt restructuring with Ghana and other African countries "makes no sense."
China's demand that the multilaterals share losses is one of the main stumbling blocks delaying Ghana's debt restructuring bailout to save the economy from suffocating under the massive debts.
Ghana appears to be the pawn in this geopolitical power struggle, which lies at the core of this crucial decision.
This sends a very alarming message that will have dire consequences for the economy in the future.
Graphic Business is concerned about what appears to be a lack of information. While it is the government's responsibility to promote optimism, the underlying problems and threats to the economy cannot be ignored, and we cannot help but express concern.
We are concerned because March, then April, then May, and now, according to the rating agencies, June will pass before we have a clear comprehension of the next steps. No end appears to be in site.
These circumstances encourage speculators to engage in wild currency trading.
Many businesses' economic forecasts have been tossed out the window due to the occurrence of this circumstance in Ghana the year prior. Therefore, at this point in time, the economy requires nothing more than a repeat of last year's performance.
Possibly it is time for us to return to the IMF with a revised proposal that takes the current circumstances into account.
Keeping in mind that the IMF is seeking funding for its overstretched budget, the sooner we take action to prevent an economic catastrophe, the better.
What options are available to us as a nation in this precarious state? is the query we pose to our government.
We require a response to this inquiry. How long should we hold onto the faith that the long-awaited agreement will be reached soon?