Akufo-Addo Admits Economic Crisis, Protests Led to His Government’s Unpopularity
Former President says IMF bailout and economic hardships fueled public discontent during his tenure
- COVID-19 severely impacted Ghana’s financial stability.
- Limited options forced the government to seek financial assistance
- Economic hardships fueled demonstrations and declining public confidence
Former President Nana Addo Dankwa Akufo-Addo has acknowledged that economic hardships and frequent public protests significantly contributed to the decline in his administration’s popularity.
Speaking at the launch of a book authored by former Nigerian Military President, General Ibrahim Babangida, Akufo-Addo reflected on the economic turbulence that defined his tenure, particularly during the COVID-19 pandemic, which severely affected Ghana’s financial stability.
He highlighted how the global crisis disrupted economies worldwide, including Ghana, leading to a sharp decline in economic activity. With international capital markets largely inaccessible, his government had no choice but to seek financial assistance from the International Monetary Fund (IMF) to restore stability.
The former president admitted that the economic downturn sparked widespread public dissatisfaction, resulting in multiple protests across the country. While he noted that these demonstrations were not as intense as the Structural Adjustment Programme (SAP) riots of the 1980s, they were significant enough to weaken public confidence in his leadership.
“We faced a major economic crisis, and with the world’s capital markets closed to us, we ended up going to the IMF—not an easy decision to make. The economic difficulties brought people onto the streets,” he said.
Akufo-Addo acknowledged that the protests reflected growing discontent with his government, ultimately shaping public perception and his administration’s legacy.
