Ghana's Decisive Elections: A Pivotal Moment for Economic Revival

On December 7, Ghanaians will elect a new president and parliament, with contenders including former President John Mahama and Vice President Mahamudu Bawumia. Investors are keen to see if the winner will uphold economic reforms and effectively handle Ghana's debt challenges under the existing IMF program.

Ghanaians are set to vote on December 7 in a tightly watched election, as key candidates vie to replace President Nana Akufo-Addo. Former president John Mahama and Vice President Mahamudu Bawumia lead the race in a country grappling with economic recovery post-debt default.

Mahama pledges to revise IMF deal terms, propose a debt-to-GDP ceiling, despite critiques of his previous tenure marked by high inflation and infrastructure investments. Bawumia champions economic modernization through digitization, fiscal discipline, and private sector involvement.

Ghana faces a slew of economic challenges, including a cost-of-living crisis, unemployment, and infrastructure needs. The election's outcome could redefine policies on debt management, social spending, and the management of its vital oil and cocoa sectors.

(With inputs from agencies.)