Former Majority Leader Osei Kyei-Mensah-Bonsu has identified a combination of external and domestic challenges as key factors behind the New Patriotic Party’s (NPP) defeat in the 2024 general elections.
Speaking with Bernard Avle on Channel One TV’s The Point of View on Monday, October 6, 2025, Mr. Kyei-Mensah-Bonsu pointed to the COVID-19 pandemic, the party’s internal issues, the Russia-Ukraine war, and the government’s Domestic Debt Exchange Programme as major contributors to the party’s electoral setback.
His comments come in the wake of the World Bank’s dismissal of suggestions that Ghana’s 2022 economic crisis was mainly caused by external shocks. In its latest assessment in a report titled, Transforming Ghana in a Generation, the Bretton Woods institution said the deterioration in global conditions only “exposed an economy already beset with deep structural vulnerabilities and precarious macroeconomic conditions.”
According to the former Suame MP, although the Akufo-Addo administration worked hard to protect lives and livelihoods during the pandemic, the interventions came at a heavy cost to the economy.
“I can relate to the findings that led to our loss. The Ashanti regional chapter of the enquiry cited four main issues -one being external factors, some strong winds that blew from outside and hit us unprepared. Yes, it affected the economy. But basically attributable to COVID-19, the Russia-Ukraine war, these are force majeures we couldn’t control; they hit us, they had repercussions on us on the economy in particular, especially the meltdown that we experienced.
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.”
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