IMF deal could’ve been avoided if my PSI ideas were fully accepted- Alan

Former Trade and Industry Minister and flagbearer hopeful of the New Patriotic Party (NPP), Alan Kwadwo Kyerematen, has indicated that Ghana would not have returned to the International Monetary Fund (IMF) if the country had paid attention to his ideas and implemented them in the past.

According to him, the President’s Special Initiatives (PSI), which was introduced in the John Agyekum Kufuor era was one of his ideas. He said it would have been a game changer if it had been fully accepted and implemented.

“The amount of work I have done for this country, sometimes I even feel ashamed talking about it. In President Kufuor’s era, I was one of the senior ministers in Kufuor’s administration. I brought PSI and if Ghanaians had listened to me, today Ghana wouldn’t have gone to the IMF.

Former President John Agyekum Kufuor envisaged the PSIs as an opportunity to create a ‘Golden Age of Business’ stimulated by public-private partnerships and the creation of over 100,000 jobs.

The PSIs, according to the NPP government, were to move Ghana’s economy beyond HIPC(Heavily Indebted Poor Countries) status and reduce the country’s over-dependence on aid, donor support, and a few commodity exports by finding new pillars of growth.

In the maiden edition of the meet the delegates cluster durbars, held in nine constituencies across Greater Accra, including Ablekuma North, South, and Central, Ayawaso East, North, and Central, Klottey Korley, Odododiodio, and Ablekuma South, Mr.Kyerematen captivated the crowd with his profound knowledge of technology and his conviction that Africa’s development hinges on industrialization.

Mr. Kyerematen resigned from his position as Minister of Trade and Industry in January 2023 to reignite his presidential ambition.

He first attempted to lead the NPP in 2007, where he polled 32.3 percent of votes against the winner, Nana Akufo-Addo who gained 47.96 percent.

He made two more attempts in 2010 and 2014 but came second to Akufo-Addo, who won both primaries again.

Mr. Kyerematen, 68, was an Ambassador of Ghana to the United States and later Minister of Trade and Industry, Private Sector Development (PSD), and the Presidential Special Initiatives (PSI), under the John Kufuor-led NPP government.

He served as a trade advisor at the United Nations Economic Commission for Africa (ECA) in Addis Ababa, Ethiopia, where he coordinated the African Trade Policy Centre (ATPC).

Mr. Kyeremateng kicked off his nationwide delegates meeting in Accra on July 4 from the Ablekuma constituency after his vetting on Monday, July 3.

In November this year, NPP will hold its presidential primaries which many see as a straight contest between Alan Kyeremateng and the Vice President, Dr Mahamudu Bawumia.