Speaking at the commencement of his Greater Accra delegates tour in the Ablekuma constituency in Accra, he said the President's Special Initiatives (PSI), which was introduced under former President John Agyekum Kufuor's era as one of his ideas that would have been a game changer if it had been fully accepted by Ghanaians.
According to him, "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 (The President's Special Initiatives), and if Ghanaians had listened to me, today Ghana wouldn't have gone to the IMF."
The IMF approved a $3bn loan to Ghana after China agreed to a crucial debt restructuring that is vital to resolving Accra's long-running economic and financial crisis.
The approval, which will immediately release $600mn, caps the first stage of a prolonged saga over the $63bn of external and domestic debts that Ghana ran up over the past 15 years.
The IMF's decision to move ahead with the bailout will be welcomed by other countries struggling to reach agreements with their lenders over how to deal with debt woes.
The programme is based on the government's Post-COVID-19 Program for Economic Growth (PC-PEG), which aims to restore macroeconomic stability and debt sustainability and includes wide-ranging reforms to build resilience and lay the foundation for stronger and more inclusive growth.