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African News Herald > Blog > Africa > Ghanaians are Struggling with High Living Costs and Interest Rates as They Head to the Polls
Africa

Ghanaians are Struggling with High Living Costs and Interest Rates as They Head to the Polls

ANH Team
Last updated: December 7, 2024 4:15 pm
ANH Team
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The Challenges Facing Ghana’s Government Ahead of the Election

Despite government efforts to restructure public debt, secure an IMF bailout, and reboot the economy, Ghana’s ruling party and presidential candidate are facing potential defeat in the upcoming election. The country’s young population, comprising almost 40% of the total, is disillusioned with the lack of job opportunities in a country where the unemployment rate stands at 14%. As a result, economic issues have taken center stage in the election campaign.

Youth Exodus and Economic Concerns

Many young Ghanaians are considering leaving the country in search of better prospects elsewhere. The lack of viable employment options has pushed them to explore opportunities beyond Ghana’s borders. This trend is a clear indication of the challenges facing the government in addressing youth unemployment and creating a conducive environment for economic growth.

Political Implications

Recent opinion polls suggest that the opposition, led by former President Mahama, is gaining momentum and could potentially secure victory in the election. This shift in public sentiment highlights the dissatisfaction with the current government’s handling of economic issues and the growing demand for change among the electorate.

International Monitoring

International observers, including Bloomberg and the BBC, are closely monitoring the election process in Ghana. The outcome of the election will not only have implications for the country’s political landscape but also its economic future. The international community is keen to see how Ghana navigates its economic challenges and addresses the concerns of its young population.

Sources: Bloomberg | BBC

See also  The Growth Of Islamic Finance In West Africa
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