Ghana’s opposition leader John Dramani Mahama says he’ll renegotiate the IMF’s $3 billion bailout deal to lower taxes and adjust loan repayments if he wins the December 7 election.
On tax relief
Mahama criticized the current administration’s tax hikes under the IMF agreement, which raised VAT to 15% and added new levies.
“We need to rationalize taxes to support economic recovery,” Mahama said.
Debt restructuring
The former president aims to renegotiate Ghana’s $11.1 billion domestic debt due in 2026 and tackle large commercial loans maturing by 2028.
“Our focus is stability—lowering inflation and stabilizing the currency,” Mahama said.
Economic vision
Mahama has proposed a “Big Push” initiative—$10 billion to boost petrochemicals, mining, and transport.
He also wants to introduce a 24-hour economy with three eight-hour shifts.
The bigger picture
Ghana turned to the IMF after defaulting on its debt last year, which led to a currency slump and a cost-of-living crisis.
Inflation has cooled to 22.1% from 54.1%, but Mahama argues more needs to be done for struggling businesses and citizens.
Polls
Mahama leads with 51.1% against ruling party candidate Vice President Mahamudu Bawumia’s 37.3%, according to Global InfoAnalytics.
Source: Bloomberg
