Former president Kufuor details how Otumfuo single-handedly saved Ghana during his tenure as president

Former President John Agyekum Kufuor credited Ashantehene Otumfuo Osei Tutu II for saving Ghana from economic disaster during his presidency.

Former President Kufuor stated in a recent interview with Opemsuo Radio that the International Monetary Fund (IMF) rejected his government’s bailout request due to allegations of corruption at the Ministry of Finance.

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He stated that Ghana was designated as a Highly Indebted Poor Country (HIPC) at the time, making it impossible for his administration to obtain the finances required to operate the country, and that the IMF rescue was desperately needed.

Former President Kufuor stated that when Otumfuo learned that the IMF had rejected Ghana’s proposal, he intervened, and the fund accepted Ghana’s request within days.

“We entered HIPC as a country, and the situation was severe. Ghana was struggling to get foreign help, so we negotiated with the IMF for two years, expecting to alleviate our economic problems. However, due to accusations of anomalies at the Ministry of Finance, Ghana was removed off the IMF meeting’s agenda at the last minute.

“At that vital point, Otumfuo planned to fly to America, where he had ties with key persons. He paid me a visit at the Castle just before his departure, and I said my goodbyes. The rejection notification arrived just as he was leaving. However, 3 to 4 days later, Juabenhene paid me a visit, and I was shocked to see him because I had assumed he had travelled with Otumfuo. I informed him about the failed IMF accord and encouraged him to notify the King if he departs the country,” he is cited as saying by opemsuo.com.

He went on to state that “Juabenhene wasted no time in conveying the message to Otumfuo, who immediately contacted me” .

The former president said that the Asantehene arranged for him (Kufuor) to meet with World Bank and IMF personnel, which resulted in Ghana getting the requisite funds from the fund while also assisting the country’s withdrawal from HIPC.

“Through his contacts, Otumfuo arranged for me to talk with a World Bank official and then an IMF official, both of whom agreed to lobby for Ghana. This coordinated effort finally spared Ghana from an economic disaster and kept it out of HIPC.

“At that time, Ghana owed around $8 billion but that approval saved Ghana over $4 billion,” he added.

.Former president Kufuor details how Otumfuo single-handedly saved Ghana during his tenure as presidentFormer president Kufuor details how Otumfuo single-handedly saved Ghana during his tenure as presidentFormer president Kufuor details how Otumfuo single-handedly saved Ghana during his tenure as presidentFormer president Kufuor details how Otumfuo single-handedly saved Ghana during his tenure as president

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