The upcoming presidential elections in Ghana contrast the economic strategies of John Mahama, who proposes a “24-hour economy,” against Mahamudu Bawumia, advocating for a “digital economy.” The nation faces severe economic challenges, including high inflation and unemployment, influencing voter sentiment. Recent polls suggest a tight race, with Mahama leading but facing skepticism regarding his past governance. Both candidates pledge tax reforms to ease the cost of living.
Ghana is poised for a pivotal electoral showdown, with former President John Mahama and current Vice President Mahamudu Bawumia emerging as front-runners for the presidency. The election comes amidst widespread economic distress, marked by high inflation, significant currency depreciation, and an unemployment rate of 14%. Many young citizens, such as recent accounting graduate Nathaniel Qainoo from Kasoa, are disillusioned and contemplating emigration due to the current hardships.
Mr. Bawumia, carrying the banner of the New Patriotic Party (NPP), positions himself as a champion of a “digital economy,” pledging to create job opportunities through significant investment in technology startups and skills training for youth. Despite being recognized for his academic achievements, including a Master’s degree in economics from Oxford, he grapples with the negative economic conditions that have surfaced during his time in office. Bawumia has adopted a narrative that seeks to disentangle his reputation from the duties he undertook under President Akufo-Addo, suggesting that external factors led to the current economic downturn.
Conversely, Mahama, representing the National Democratic Congress (NDC), aims to “reset” the economy and has proposed the establishment of a “24-hour economy” to increase employment opportunities. Despite his efforts to return to political prominence, critics recall his previous administration’s challenges, including severe electricity shortages. Both candidates have also pledged to alleviate citizens’ burdens by scrapping certain taxes, although economists raise concerns about the feasibility of fulfilling these promises under the existing IMF recovery program.
The electoral landscape indicates a competitive race, with a recent poll showing Mahama in the lead. However, there remains a potential for a runoff, and polling inaccuracies could alter the expected outcome. Bawumia’s campaign has dismissed pre-election surveys, asserting confidence in securing a historic victory, potentially making him Ghana’s first Muslim president. These elections carry the hopes of a nation yearning for economic recovery and stability as voters deliberate on which candidate can best address their pressing concerns.
In 2022, Ghana faced a severe economic crisis, characterized by a default on debt payments and inflation rates soaring to 54%. The country’s currency, the cedi, depreciated by 70% over eight years, prompting a $3 billion bailout from the IMF. The widespread economic instability has become a focal point in the upcoming elections, influencing the views of many Ghanaians, particularly the youth. With the country’s unemployment rate at 14% and a significant portion of the population expressing a desire to emigrate for better opportunities, economic strategies proposed by both main candidates have become crucial topics of discussion.
In conclusion, the Ghanaian elections reflect the populace’s anguish over economic hardships, with candidates Mahama and Bawumia presenting contrasting visions for recovery and growth. Bawumia’s focus on a digital economy strives to resonate with the youth, while Mahama’s proposal for a 24-hour economy seeks to stabilize job creation. As Ghanaians prepare to cast their votes, the outcome will significantly influence the nation’s economic trajectory and its potential to rebound from a deep crisis.
Original Source: www.bbc.com
