Newly Elected John Mahama wants to Spend to Kickstart Growth but a $3bn IMF Deal Makes it Tricky

While he has yet to offer further clarity on his campaign pledges the President-elect, who led the country from 2012-17, said in a victory speech that his win offered “a new beginning, a new direction” for Ghana, which has been wracked by high inflation and declining living standards. He previously pledged to establish a “National Economic Recovery Task Force” in his first month in office, which will include representatives from across industry and will be tasked with suggesting practical ideas for boosting growth and living standards while turning Ghana into a “24-hour economy”. He also pledged to bring back the “Jobs for Youth” scheme to boost employment among young people, and to halt the controversial imposition of VAT on essentials such as food and petrol in order to ease cost of living pressures.

AFRICAN BUSINESS