Former Majority Leader Osei Kyei-Mensah-Bonsu attributes the New Patriotic Party’s (NPP) 2024 electoral defeat primarily to a convergence of external shocks and internal party issues. In his interview with Bernard Avle on Channel One TV’s The Point of View, he highlighted the COVID-19 pandemic, internal discord, the Russia-Ukraine war, and the government’s Domestic Debt Exchange Programme as pivotal contributors to the loss.
Addressing recent World Bank comments that Ghana’s economic woes stemmed more from underlying vulnerabilities than external shocks, Kyei-Mensah-Bonsu emphasised that while the Akufo-Addo administration worked to protect lives during the pandemic, these interventions imposed significant economic burdens. He aligned with findings from the Ashanti regional enquiry, which pinpointed uncontrollable external crises as well as domestic challenges as central to the party’s setback.
He emphasised, “The former President [Nana Addo Dankwa Akufo-Addo] did so well to protect livelihoods and lives. But it had a toll on the country’s finances, and going forward, it ignited some heat in the system. And then we had to go to the IMF for a bailout.” Mr. Kyei-Mensah-Bonsu added that the Domestic Debt Exchange Programme worsened public discontent as it directly affected over 800,000 people and their families.
He also highlighted the impact of rising global prices, including fertilisers, as a result of the Russia-Ukraine war, which escalated the cost of living in Ghana. He further admitted that governance challenges after COVID-19 led to stalled development projects, which deepened frustrations among citizens.
“Some of the things that we had not intended to do, the domestic debt exchange programme, which affected over 800,000 people. They had families, and so, they were pressed. Then we had other matters, including, in particular, the Russia-Ukraine war, which escalated the cost of many items. Even fertilisers were affected.
He stressed, “Then we had issues with governance. Post-COVID-19, our backs were to the wall. We had to put the brakes on development projects that affected the lubrication of the system.”
Source: Leticia Osei