Otumfuo’s quiet role helped Ghana secure IMF support in 2009 – Mahama

President John Dramani Mahama has disclosed that the Asantehene, Otumfuo Osei Tutu II, quietly played an influential role in helping Ghana secure financial support from the International Monetary Fund (IMF) during a challenging economic period in 2009.

Speaking at the Jubilee House on Monday, June 2, 2025, when the Asantehene paid a courtesy call on him, Mr Mahama recalled that Otumfuo travelled to New York to meet directly with the IMF Director to support Ghana’s efforts to access an Extended Credit Facility (ECF).

“When I was Vice President, we faced challenges with the International Monetary Fund,” Mr Mahama said. “I sought his guidance, and it was he who travelled to New York, met with the IMF Director, and facilitated the opening of the Extended Credit Facility for Ghana.”

According to Mr Mahama, this behind-the-scenes engagement occurred around 2009, during his tenure as Vice President under the late President John Evans Atta Mills. Ghana formally entered into the ECF arrangement in July 2009 to address fiscal imbalances and pressures on the balance of payments.

Mr Mahama shared the account as part of a broader tribute to Otumfuo Osei Tutu II’s long relationship with him and his influence in both public and private matters.

“Your Majesty, I deeply thank you for your friendship, which is very special to me,” he added during the meeting, which was attended by traditional leaders, ministers of state, and the media.

At the time of the IMF engagement, Ghana’s economy was grappling with growing public debt, a weakening cedi, and widening budget deficits.

The ECF arrangement provided critical support to stabilise the economy and restore investor confidence.

Mr Mahama also used the opportunity to reflect on Otumfuo’s broader contributions to national peacebuilding, including his leadership in resolving the Dagbon chieftaincy crisis and his current involvement in the mediation of the Bawku conflict.

“Otumfuo has consistently used his platform not only to uphold our cultural heritage but also to help address some of the most pressing issues in our country,” Mr Mahama said.

He noted that his government would continue to work with traditional leaders as Ghana seeks to rebuild the economy and improve public institutions.

“Our progress depends on unity, mutual respect, and justice,” he said.

Mr Mahama described the Asantehene’s visit as more than a ceremonial gesture, calling it a reaffirmation of the relationship between the institution of chieftaincy and the presidency.

He said Otumfuo’s actions over the years reflect how traditional leaders continue to shape national decisions, both publicly and behind closed doors.