As Ghana faces its most severe recession in decades, two prominent candidates—former president John Dramani Mahama of the National Democratic Congress (NDC) and current vice president Mahamudu Bawumia of the ruling New Patriotic Party (NPP)—are vying for the presidency, each promising to steer the nation towards economic recovery.
The economic downturn, exacerbated by years of excessive borrowing and global challenges such as the COVID-19 pandemic and the war in Ukraine, led Ghana to default on its external debt in 2022. An International Monetary Fund (IMF) bailout is in the pipeline, contingent on debt restructuring.
John Mahama, who served as president from 2013 to 2017, has vowed to address corruption, abolish first-year university fees, and implement immediate tax cuts. “I will lead a ruthless war against corruption” and recover misappropriated assets, he asserted. Despite his previous tenure being marred by criticism over economic mismanagement and power shortages, Mahama was never personally implicated in any misconduct.
On the other hand, Mahamudu Bawumia, an economist and former central banker, emphasized the importance of fiscal discipline. He promised to cut public spending, streamline the tax system, and reduce the number of government ministers. Bawumia also presented a plan to combat unemployment by training one million young Ghanaians in digital skills.
Given that no party in Ghana’s history has secured more than two consecutive terms, the December 7th election is expected to be a closely contested race.
