加纳总统 John Dramani Mahama 先生于 2025 年 1 月 7 日宣誓仪式

应对失业挑战

Debt, Inflation, Jobs: Mahama Inherits Economy Rebounding from Crisis -- Promises to Chart Path for Recovery

Ghana’s new President, John Dramani Mahama, has inherited an economy recovering from one of its worst fiscal crises in decades as the country struggles to emerge from a crushing debt burden that forced it to default on most of its external obligations in 2022. 

With inflation still in double digits (23.6%)  and the cedi lost significant value against major currencies, the immediate challenge will be stabilising the macroeconomic environment while maintaining social services for Ghana's 32 million citizens.

Although the $3 billion International Monetary Fund (IMF) programme secured in 2023 provides some breathing room, this demands strict fiscal discipline that will test the new administration's resolve. 

The new president has already indicated that his government will renegotiate the IMF deal and navigate a delicate balance of implementing painful reforms required by the IMF while cushioning vulnerable populations from the harshest impacts of austerity measures. 

Key among these reforms is the need to boost domestic revenue collection and reduce costly energy sector subsidies that have strained the national budget.

Ghana's once-promising oil sector, which helped fuel robust growth in the previous decade, now requires significant investment to maintain production levels at a time when government resources are severely constrained. 

There is the $2 billion debt owed to the energy producers despite the ESLA bond which was meant to retire a chunk of this liability.

The mining sector, particularly gold production, remains crucial to export earnings but faces challenges from illegal small-scale mining that has caused environmental damage and social tensions in mining communities.

The new administration must also address a youth unemployment crisis that has left nearly half of young Ghanaians without steady work, despite the country's relatively strong educational system. 

Beyond immediate crisis management, Ghana's leadership faces the longer-term challenge of diversifying an economy still heavily dependent on raw material exports. 

In reality, the economy is stressed but recovering, with GDP set to rebound to higher levels as third-quarter figures looked encouraging at 7.2 per cent; and inflation easing from a height of 54.1 per cent in 2022 to 23.2 per cent in November 2024. Gross international reserves also increased to $7.83 billion in September 2024, equivalent to 3.5 months of import cover.

Debt, which reached alarming levels, has also now dropped slightly post the debt restructuring exercise, with debt to GDP dropping from 79.2 per cent in September 2024 to 74.6 per cent in October 2024.

New Era

Speaking at his inauguration, President Mahama unveiled an ambitious vision for Ghana's future, emphasising the need for a fundamental reset to address the nation's challenges and forge a path to prosperity.

He highlighted the country’s economic landscape, acknowledging the difficulties many citizens have faced. 

Rather than dwelling on these challenges, he presented a message of resilience and possibility, emphasising that Ghana could overcome its present obstacles.

"Democracy must deliver tangible benefits to its citizens to justify its position as the superior form of governance," he stated.

He said many Ghanaians currently felt disconnected from democracy's promised advantages, suggesting this called for a fresh approach to governance.

The President particularly emphasised the strength and endurance of the Ghanaian people during recent difficult times.

"While we have weathered numerous economic storms and faced crisis after crisis, I see hope emerging on the horizon," he stated. 

Mahama framed the present moment as a critical juncture for the nation, declaring, "We stand at the threshold of a new chapter—one where we can reimagine our approach to governance and economic management. Through our collective efforts, we will reset Ghana's course toward prosperity."

His government has promised to scrap what it terms “nuisance taxes such as the 10 per cent E-levy and COVID, levy on bet winnings, review taxes on levies on vehicles, and equipment imported into the country for agricultural purposes among others in the first 100 days.

Analysts, however, have had cause to caution that a review of any of these taxes might have consequences for government projected revenues under the IMF programme.

Addressing unemployment

President Mahama also placed youth employment at the centre of his new administration's agenda, promising to leverage private sector partnerships to create "decent and well-paying jobs" for Ghana's young population.

Speaking at his inauguration, President Mahama acknowledged the crucial role young voters played in his victory at the December 7, 2024 polls, describing the outcome as a "powerful affirmation" of the youth's demand for change. He pledged that their aspirations would shape his government's policies.

"Our policies will be tailored to sustain innovation and foster an industry that engages today's young minds," Mahama said, outlining his vision for a more inclusive Ghana. 

He emphasised that his administration, together with his Vice President, would prioritise three key pillars: inclusivity, accountability and innovation.

He stressed that collaboration with "captains of business" would be crucial in creating sustainable employment opportunities.

"This moment is a cornerstone in the journey towards a brighter future for Ghana. My administration will work towards the upliftment of all our people,” he said.

来源：加纳图文在线

文：By Emmanuel Bruce

翻译：无尽夏

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