Dr. John Kwakye, the Director of Research at the Institute of Economic Affairs (IEA), has advised President-elect John Dramani Mahama not to deepen Ghana’s debt crisis by resorting to borrowing.
Instead, he suggests that Mahama’s government should focus on leveraging the country’s natural resources to generate internal revenue for development.
In a congratulatory message posted on X, Dr. Kwakye commended Mahama for his return to power and expressed hope that he would address the country’s economic challenges. “The President Mahama government must focus on Ghana’s natural resources as the main source of development financing. It must eschew the habit of borrowing to stem Ghana’s recurrent debt crises,” he said.
Dr. Kwakye also stressed that Ghanaians have high expectations for the newly elected president, urging him to bring about the change the country urgently needs. “Congratulations, President Mahama, for your bold, inspired, and hard-fought comeback. It is the hope of Ghanaians that you will use the second opportunity and your experience to bring about the necessary change to meet their aspirations through inclusive government,” he added.
Meanwhile, President Mahama has criticized the outgoing administration of President Nana Addo Dankwa Akufo-Addo, accusing it of pushing Ghana into severe economic difficulties. He admitted that his new government would face a challenging path as it seeks to implement governance reforms, but reiterated his commitment to improving the nation’s fortunes.
“We should not forget the people of Ghana,” Mahama said passionately. “We will implement governance reforms. The journey is not going to be easy because the outgoing government has plunged the nation into an abyss.” He also emphasized the need for unity and collaboration, stating, “The one we serve is Mother Ghana.”
In a separate development, President Akufo-Addo has congratulated Mr. Mahama on his victory and expressed his commitment to a smooth power transition. The Electoral Commission of Ghana officially declared Mahama as the winner of the December 7 presidential election.
A statement from Jubilee House announced that President Akufo-Addo had pledged to ensure a peaceful handover of power by January 7, 2025. He expressed his willingness to cooperate with Mahama’s team and commended the Electoral Commission and the citizens of Ghana for their role in ensuring a credible election. Akufo-Addo also called for national unity and a collective effort to consolidate democracy and uphold the rule of law.
In a gesture of goodwill, President Akufo-Addo has invited President-elect Mahama to Jubilee House on December 11, 2024, to begin the formal transition process, reinforcing Ghana’s position as a beacon of democratic governance in Africa.
This marks a historic moment of political unity as Ghana prepares for a new phase in its governance.
