As Ghana approaches its presidential election on December 7, the country’s economic crisis remains a central issue.
Retired police officer Emmanuel Amey-Wemegah, 63, is one of many affected by government bond restructurings in 2023.
He invested his pension in bonds, only to see his savings hit by the restructuring required for a $3 billion IMF bailout.
“The restructuring stole our money,” Amey-Wemegah said, reflecting the widespread frustration felt by citizens.
Ghana’s economy has struggled due to the COVID-19 pandemic, the Ukraine war, and excessive borrowing.
Inflation surged over 54%, and public debt climbed from 63% of GDP in 2019 to 92.7% in 2022.
The December election pits Vice-President Mahamudu Bawumia of the ruling New Patriotic Party against former President John Dramani Mahama of the opposition.
Economic issues, including the debt restructuring, are key concerns for voters.
Many citizens, including rice-miller Julius Kwadzo Ameku, hope for change.
“The gold, oil, and resources won’t fix the country without proper policies,” he said.
With economic struggles at the forefront, this election could reshape Ghana’s future.