We Were Really Surprised And Confused When You Announced A Return To IMF - Wontumi Tells Akufo-Addo

According to Bernard Antwi-Boasiako, the Ashanti Regional Chairman of the New Patriotic Party (NPP), the decision of the government to return to the International Monetary Fund (IMF) came as a surprise to many Ghanaians, particularly key members of the NPP.


Prior to the government's announcement on Ghana's request for IMF support in July 2022, President Akufo-Addo and his officials had initially vowed not to seek assistance from the fund, despite the evident economic difficulties.

After 10 months, some NPP employees are now expressing how they genuinely felt about that announcement.

During a press briefing commemorating the first anniversary of the current NPP leadership in the region,

On Monday, May 29, 2023, Mr. Antwi-Boasiako, also known as Chairman Wontumi, revealed that he was as stunned as every other Ghanaian when the government announced its intention to return to the Bretton Woods Institution.

"When you announced that you were going to the IMF, we were actually surprised and perplexed," he stated.

He stated that he subsequently realized the President had no ill intentions toward the country.

He added, "Today, he has demonstrated to us that God chose you [the President] at this difficult time to be a leader."

He made these remarks at a press conference organized to commemorate the first anniversary of the current NPP leadership in the region.

Among other things, he lauded the accomplishments of the government under President Akufo-Addo's leadership and thanked him for enabling himself to be "a vessel to save Ghanaians."

After several rebuttals of claims that Ghana would return to the IMF under the leadership of President Akufo-Addo, the government, through officials such as Information Minister Kojo Oppong-Nkrumah and Deputy Finance Minister John Kumah, finally conceded and reversed its position on the government seeking support from the International Monetary Fund (IMF).

On multiple occasions, the Finance Minister, Ken Ofori-Atta, and his Deputy, John Kumah, disputed claims that the country would eventually return to the IMF. Even a few days prior to the announcement, he had stated categorically, while answering queries on behalf of the Minister of Finance, that the nation would not return to the Bretton Woods institution.

"The government has resolved to implement fiscal consolidation and debt sustainability measures in order to restore and maintain macroeconomic stability, as well as promote credibility and investor confidence. We will continue to work with the fund to stabilize the economy in preparation for a robust recovery and revitalization. Ghana is not going to the IMF at this time, but we want to make it clear that we will continue to collaborate with the Fund on fiscal consolidation and debt sustainability," he said.

In a statement dated 1 July 2022 and signed by the Information Minister, Kojo Oppong Nkrumah, the government revealed, to the utter shock of the entire population, that President Akufo-Addo and the IMF's director, Kristalina Georgieva, had already discussed the country's decision to engage with the Fund.


In the meantime, Ghana has secured a three-year, $3 billion subsidy from the IMF. It has thus far received approximately 600 million GHS, which represents the first tranche of funds to be disbursed in accordance with an agreement, with the release of the remaining funds contingent on the fulfillment of certain conditions.