I retract my earlier comment that NDC went to IMF due to mismanagement - Agyapong

The Member of Parliament for Assin Central, Kennedy Agyapong, has retracted his earlier claim that the Mahama-led National Democratic Congress (NDC) took the country to the International Monetary Fund (IMF) because they had mismanaged the economy.

Kennedy Agyapong

Speaking to New Patriotic Party delegates in Koforidua, the businessman said that since his own party is also seeking an IMF bailout, it was only fair that he eat his words.

"Because the noise we made, and I chew my own words back when I said NDC went to IMF because of mismanagement of the economy," Agyapong said, asking: "So if NPP is [also] going to IMF, what am I going to say [now]?"

He went on further to lament how difficult it would be for the NPP to retain power in the 2024 elections after having disappointed the Ghanaian public with the woeful mismanagement of the country’s economy, which they had accused their predecessors of.

He expressed sadness over the development, saying it makes the next elections a walk in the park for the opposition NDC.

"It is just like handing over power to NDC without a contest, straight away.

"So, Breaking the 8 [winning Election 2024 NPP campaign message] is going to be tough. You cannot use the face of those who took us [back to IMF] to 'Break the 8', it won't work. My message to you is simple, you cannot, read my lips and I'm not scared of anybody in the party, I'll tell you the gospel truth, those who take you to IMF, those same faces, cannot Break the 8... a word to the wise is enough," he added.

He, however, urged the party delegates to brace themselves for a tough battle in convincing Ghanaian electorates to give the NPP another chance.

"I'm very, very sad today, when I saw the publication that we are going to the IMF. You know that is what [former President] Mahama was praying for. He's gotten his wish. It will not be easy, it will take hard work, so we should brace ourselves that there is a task ahead of us and therefore it is only unity, that will help us sail through this 'Breaking the 8."

On July 1, President Nana Addo Dankwa Akufo-Addo instructed the Finance Minister, Ken Ofori-Atta, to engage the IMF for a bailout.

According to a statement signed by Information Minister, Kojo Oppong Nkrumah, President Akufo-Addo had a telephone conversation with the IMF Managing Director, Miss Kristalina Georgieva, conveying Ghana’s decision to engage with the Fund.

The engagement with the IMF will seek to provide balance of payment support as part of a broader effort to quicken Ghana’s buildback in the face of challenges induced by the Covid-19 pandemic and, more recently, the Russia-Ukraine crisis, according to the statement from the presidency.

This is the second time Ghana is seeking support from the Bretton Wood institution in seven years after the country engaged them in 2015 under the erstwhile John Dramani Mahama’s government.

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