Government’s decision for the country to return to the International Monetary Fund (IMF) arguably came as a shock to many Ghanaians, especially major personnel of the New Patriotic Party (NPP), according to the Ashanti Regional Chairman of the party, Bernard Antwi-Boasiako.

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

10 months down the line and some NPP personnel are expressing how they truly felt about that announcement.

During a press briefing organised to mark the region’s current NPP leadership’s first-year anniversary,

Mr Antwi-Boasiako, popularly known as Chairman Wontumi, on Monday, May 29, 2023, revealed that he was just as shocked as every other Ghanaian was when the government declared its intention to return to the Bretton Woods Institution.

“The time you announced that you were going to the IMF, actually, we were surprised and confused,” he said.

However, he said he later came to realise that the President meant no evil for the country.

“Today, he has proven to us that God chose you [the President] at this difficult time for you to be a leader,” he added.

He made these remarks during a press conference organised to mark the region’s current NPP leadership’s first-year anniversary.

Among other things, he touted the achievements of the government under the leadership of President Akufo-Addo and also thanked him for allowing himself to be used as ‘a vessel to save Ghanaians.’

After several rebuttals against claims of Ghana ever returning to the IMF under the leadership of President Akufo-Addo, the government, through some officials, including Information Minister, Kojo Oppong-Nkrumah and Deputy Finance Minister, John Kumah, finally conceded and made a u-turn on its stance regarding government seeking support from the International Monetary Fund (IMF).

The Finance Minister, Ken Ofori-Atta and his Deputy, John Kumah, had on various occasions disputed assertions that the country would eventually return to the IMF. Even a few days before the announcement, the latter had categorically stated while answering questions on the floor of Parliament on behalf of the Minister for Finance, that the country was not returning to the Bretton Woods institution.

“Government has resolved to take necessary and tough measures to restore and sustain macro stability as well as promote credibility and investor confidence through the implementation of government’s fiscal consolidation and debt sustainability measures. We will continue to collaborate with the fund as we stabilise the economy for a strong recovery and revitalisation. As we speak, Ghana is not going to the IMF, but we also want to make it clear that we will continue to work with the Fund for fiscal consolidation and debt sustainability,” he said.

But to the utmost surprise of the entire citizenry, government through a statement signed by the Information Minister, Kojo Oppong Nkrumah, and dated July 1, 2022, indicated that there had already been a conversation between the IMF boss, Kristalina Georgieva and President Akufo-Addo conveying its decision to engage with Fund.

Meanwhile, Ghana has been able to secure a $3 billion bailout from the IMF over three years. It has so far received about GHS 600 million which is the first tranche of money to be disbursed following an agreement and pending fulfilments of certain terms for rest of funds to be released.