Former Assin Central MP Kennedy Agyapong has declared his intention to build an economy so self-reliant that the International Monetary Fund becomes irrelevant to Ghana’s national discourse, marking a bold economic vision as he prepares for the 2028 presidential race.
The New Patriotic Party flagbearer aspirant intensified criticism of opponents whose economic strategies depend on IMF negotiations, stating in a recent social media post that such leaders have “already failed.”
“If your vision for Ghana starts with a trip to the IMF, you have already failed,” Agyapong wrote on X, formerly Twitter. “My vision is to build an economy so self-reliant and powerful that the IMF becomes irrelevant to our national conversation.”
The businessman officially declared his intention to contest the NPP’s 2028 flagbearer race in July 2025, representing his second attempt after losing to then-Vice President Mahamudu Bawumia in the 2023 presidential primaries.
His comments come as Ghana continues implementing a $3 billion Extended Credit Facility arrangement approved by the IMF in May 2023, with recent disbursements totaling $360 million following successful program reviews.
The current administration has committed to achieving a primary fiscal surplus of 1.5% of GDP in 2025, reversing the 3.25% deficit recorded previously as part of ongoing IMF program requirements.
Agyapong’s economic nationalism message targets voters frustrated with Ghana’s recurring reliance on IMF bailouts. Ghana has a long history of engagement with the IMF, with successive governments seeking economic bailouts due to worsening domestic economic conditions.
His brother Ralph Agyapong confirmed in March 2025 that shifting internal dynamics within the NPP now favor Kennedy’s candidacy, positioning him strategically for upcoming primaries.
The former MP emphasized job creation as central to solving Ghana’s economic challenges, arguing that unemployment remains “a worrying feature” requiring innovative solutions rather than external dependency.
Current economic indicators show mixed progress under the IMF program, with GDP growth reaching 6.9% in Q2 2024 and inflation dropping from 54.1% in December 2022 to 22.1% in October 2024.
However, Agyapong contends that sustainable economic transformation requires domestic resource mobilization and entrepreneurial development rather than continued external borrowing arrangements.
Speaking to Pan African Television, Agyapong positioned himself as the NPP’s sole path to defeating opponents in 2028, acknowledging the party faces competitive challenges following its December 2024 electoral defeat.
His anti-IMF rhetoric contrasts sharply with the current government’s approach, which has praised the international lender’s support for Ghana’s economic recovery efforts and debt restructuring initiatives.
Former Government Spokesperson Dr. Palgrave Boakye Danquah recently described Agyapong as “the variable that can deliver NPP victory in 2028,” suggesting growing support for his candidacy within party circles.
The aspiring flagbearer has not detailed specific policies for achieving IMF independence, though his business background and previous parliamentary experience inform his confidence in alternative economic strategies.
Party sources indicate Agyapong plans to submit nomination forms for the upcoming presidential primaries, formally launching his campaign for the 2028 flagbearer position.
His message resonates with segments of the population skeptical of external economic oversight, particularly younger voters seeking leaders who promise genuine economic sovereignty and job creation opportunities.
The success of Agyapong’s vision would require significant structural changes to Ghana’s economy, including enhanced domestic revenue generation, improved governance systems, and reduced dependency on commodity exports vulnerable to global market fluctuations.
Ghana’s current IMF program requires achieving primary fiscal surpluses and implementing structural reforms, creating benchmarks against which future economic independence claims will be measured.
As the 2028 election cycle approaches, Agyapong’s bold economic nationalism may distinguish him from competitors while challenging voters to consider whether Ghana can realistically achieve IMF independence under his proposed leadership approach.
