Former President John Agyekum Kufuor has credited the Asantehene for his pivotal role in rescuing Ghana from a dire economic crisis, particularly during the country’s involvement in the Highly Indebted Poor Countries (HIPC) initiative.
According to him, Ghana was saved from a debt of $4 billion out of over $8 billion.
In an interview on Opemsuo Radio, Kufuor recalled the challenging economic conditions Ghana faced during his tenure, prompting negotiations with the International Monetary Fund (IMF) that spanned over two years.
However, during a crucial meeting to finalize the deal, Ghana’s fate was unexpectedly sidelined due to reported issues at the Ministry of Finance.
Amidst uncertainty, Juabenhene, who was slated to accompany the Asantehene abroad, visited Kufuor. Sensing the urgency, Kufuor urged Juabenhene to relay the situation to Otumfuo.
Promptly, Juabenhene contacted the Asantehene, who wasted no time in reaching out to his contacts at the World Bank. This led to a direct conversation between Kufuor and an IMF official, ultimately resulting in Ghana’s rescue from the brink of economic collapse.
The deal negotiated with the IMF, facilitated through Otumfuo’s intervention, enabled Ghana to overcome its staggering debt burden, saving the country billions of dollars and paving the way for economic recovery.
