{"id":263097,"date":"2024-12-08T18:22:19","date_gmt":"2024-12-08T18:22:19","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/12\/08\/a-conundrum-worth-2-billion-awaits-ghanas-next-leader\/"},"modified":"2024-12-08T18:22:19","modified_gmt":"2024-12-08T18:22:19","slug":"a-conundrum-worth-2-billion-awaits-ghanas-next-leader","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/12\/08\/a-conundrum-worth-2-billion-awaits-ghanas-next-leader\/","title":{"rendered":"A conundrum worth $2 billion awaits Ghana&#8217;s next leader."},"content":{"rendered":"<p><\/p>\n<div>\n<p>This blog is managed by the content creator and not GhanaWeb, its affiliates, or employees. Advertising on this blog requires a minimum of GH\u20b550 a week. Contact the blog owner with any queries.<\/p>\n<p class=\"floatLeft\">Zeqblog  Blog of Sunday,  8 December 2024<\/p>\n<p class=\"floatRight\"><strong>Source: <\/strong>Okine Isaac<\/p>\n<div class=\"article-left\">\n<p class=\"article-image\"><img decoding=\"async\" src=\"https:\/\/cdn.ghanaweb.com\/imagelib\/blog\/606\/60624023.295.jpg\" \/><\/p>\n<\/div>\n<div style=\"-webkit-user-select: none; -webkit-touch-callout: none; -moz-user-select: none; -ms-user-select: none; user-select: none;\">\n<p style=\"clear:right\" id=\"article-123\">Whoever becomes the next president of Ghana is facing a significant challenge.<br \/>&#13;<br \/>\nOver the next four years, the victor of Saturday&#8217;s election must repay over 30 billion cedis ($2 billion) in debt. He must accomplish this while the government is still unable to access capital markets.<\/p>\n<p>Refinancing the load will depend on stabilizing a currency that has fallen more than 60% against the dollar in three years and reducing the rate of inflation in Africa&#8217;s largest gold producer.<\/p>\n<p>The 33 million-person country is incensed at the rising costs of essentials like plantains, onions, and banku, a dough made from fermented corn and cassava. According to the majority of opinion surveys, opposition leader John Dramani Mahama will defeat Mahamudu Bawumia of the ruling party.<\/p>\n<p>Mahama, who lost the position in 2017, would be making a Donald Trump-like comeback, continuing the three-decade trend of switching terms between the two major parties.<\/p>\n<p>According to bankers and financial managers we met with in Accra, the next leader will need to reduce the current 23% growth in consumer prices to less than 15%. That might persuade the central bank to lower interest rates and allow the next government to access the local market.<\/p>\n<p>The government of President Nana Akufo-Addo has been raising money by selling short-term securities after investors were put off by a restructuring of local currency debt.<\/p>\n<p>Repayment Schedule<br \/>&#13;<br \/>\nGhana has to repay $9 billion of debt by 2038<\/p>\n<p>Source: Finance Ministry, Bloomberg<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>This blog is managed by the content creator and not GhanaWeb, its affiliates, or employees. Advertising on this blog requires a minimum of GH\u20b550 a week. Contact the blog owner with any queries. Zeqblog Blog of Sunday, 8 December 2024 Source: Okine Isaac Whoever becomes the next president of Ghana is facing a significant challenge.&#13; [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":263098,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-263097","post","type-post","status-publish","format-standard","has-post-thumbnail","category-top-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>A conundrum worth $2 billion awaits Ghana&#039;s next leader. - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/12\/08\/a-conundrum-worth-2-billion-awaits-ghanas-next-leader\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A conundrum worth $2 billion awaits Ghana&#039;s next leader. - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"This blog is managed by the content creator and not GhanaWeb, its affiliates, or employees. 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