By Maxwell Akalaare Adombila and Christian Akorlie
Ghana holds a presidential and parliamentary election on Saturday amid hopes for an financial revival after the worst monetary disaster in a era, which led to a significant debt default within the West African nation.
President Nana Akufo-Addo is stepping down subsequent month after serving the 2 phrases allowed by the structure in Ghana, the world’s second-largest cocoa producer and a major gold producer.
Twelve candidates are vying to succeed him, however the race is seen as primarily between Vice President Mahamudu Bawumia, chosen successor of Akufo-Addo’s New Patriotic Get together (NPP), and former President John Dramani Mahama of the Nationwide Democratic Congress (NDC).
Opinion polls have tipped Mahama, who served as president from 2012 to 2016, for a possible comeback.
Polling stations open at 0700 GMT and shut at 1700 GMT. Some provisional legislative outcomes had been anticipated by Saturday evening and Sunday, whereas the presidential final result is anticipated by Tuesday, though developments typically enable an early prediction.
Mahama, 66, has framed Bawumia as representing a continuation of insurance policies that led to Ghana’s financial woes, and has promised to renegotiate phrases of a $3 billion IMF bailout secured final 12 months to restructure the nation’s money owed. The disaster peaked in 2022 when Ghana turned to the IMF.
“I’ll combat corruption to revive integrity and equity, two essential components lacking from our governance,” Mahama stated in closing marketing campaign remarks in Accra’s Madina neighbourhood on Thursday.
Bawumia, a 61-year-old former central banker, has highlighted Ghana’s gradual restoration from the disaster, with financial progress surging by 6.9% year-on-year within the second quarter of 2024, the quickest fee in 5 years. He advised supporters he’ll foster insurance policies that may strengthen Ghana’s restoration.
He has promised to simplify the tax system, halve the variety of authorities ministers, and minimize public spending by 3% of GDP if elected.
“The explanation why we’re going to win this election is due to the nice work that we have achieved as a authorities,” Bawumia advised cheering supporters on the College of Ghana campus throughout a ultimate rally on Thursday.
Ghana’s cedi forex has been strengthening, nonetheless excessive inflation and authorities debt sustainability stay a priority for traders.
“This election holds important significance not just for Ghana but additionally for West Africa, the place democracy is underneath scrutiny,” Oxford Economics stated in a analysis word.
Roughly 18.7 million out of Ghana’s 34 million inhabitants are registered to vote.
This text was produced by Reuters information company. It has not been edited by International South World.
