The Ministry of Finance has strongly refuted claims published in the British Daily Telegraph, describing them as “inaccurate, misleading, and prejudic
The Ministry of Finance has strongly refuted claims published in the British Daily Telegraph, describing them as “inaccurate, misleading, and prejudicial.”
The rebuttal comes after a controversial opinion piece titled “Why is Britain funding Ghana’s Leftist, Russia-sympathising government?” sought to question the United Kingdom’s financial assistance to the current administration led by President John Dramani Mahama.
In an official statement dated November 4, 2025, and signed by Technical Advisor Raymond Acquah on behalf of the Minister for Finance, the Ministry said the article, authored by Mat Whatley, contained “a number of inaccuracies, distortions, and innuendo,” particularly the suggestion that the financial dealings with the UK were improper.
The statement, addressed to the Telegraph’s letters desk in London, sought to clarify the current economic situation and its relationship with international partners, including the UK and the International Monetary Fund (IMF).
According to the Ministry, the piece “grossly misrepresented” the facts surrounding the financial recovery efforts and the government’s foreign policy outlook. It noted that the Mahama-led administration has been working to stabilise an economy inherited in severe distress following years of what it described as “mismanagement, complacency, and corruption” under the previous New Patriotic Party (NPP) government of President Nana Akufo-Addo Dankwa Akufo-Addo and his Finance Minister, Ken Ofori-Atta.
The Ministry pointed out that Ghana’s ongoing economic reform programme is a continuation of the 2022 IMF arrangement initiated after the country defaulted on external debt repayments during the Akufo-Addo administration.
In June 2025, Ghana reached a multilateral debt restructuring agreement with the IMF, the United States, Germany, and over 20 other countries, including the United Kingdom.
This agreement, the Ministry said, was central to the country’s debt recovery plan and formed part of broader international efforts to stabilise the economy.
“Since the change of leadership in January, the exchange rate has stabilised, inflation has fallen, and confidence among creditors and investors has improved,” the statement said, dismissing insinuations that the current administration is ideologically aligned with Russia.
The Ministry emphasised that Ghana remains a democratic nation committed to international cooperation and transparency in its fiscal dealings.
It further condemned the Telegraph for allowing such “ill-informed, prejudicial, and seemingly unfiltered commentary” to be published, warning that it undermines the credibility of global media institutions and adds unnecessary strain to democracies already facing economic and political uncertainty.
“Political, economic, and security uncertainties present huge challenges for democracies around the world, and especially in Africa. It does the Daily Telegraph no credit to add to such pressures,” the Ministry’s statement concluded.
COMMENTS