According to a recent report by the Economist Intelligence Unit (EIU) titled ‘Africa Outlook 2024,’ the opposition National Democratic Congress (NDC) led by former President John Dramani Mahama is likely to win the 2024 general elections in Ghana.
The report attributes this prediction to declining living standards, limited job opportunities, and poor public services.
The EIU report also highlights that a growing number of African countries will feel the financial squeeze created by excessive debt and a heavy debt-repayment burden in 2024.
This could lead to negative consequences on economic growth and stability in some countries.
The report emphasizes that Kenya’s most significant financial event in 2024 would be the June 24th deadline to redeem a US$2bn Eurobond in a single bullet payment, on top of other debt-servicing commitments.
The report anticipates that Kenya and other heavily indebted countries will prioritize timely debt re-payment to avoid a default and consequent damages to their reputation.
Regarding Zambia, which has been in external debt distress since 2020, the report states that it secured a debt-restructuring deal with official creditors and private-sector creditors in October. It seems likely to secure a complete resolution with its external creditors by early 2024, over three years after first entering default.
The EIU report concludes that countries heavily indebted to China, including Ethiopia, Ghana, Malawi, Mozambique, Somalia, Sudan and Zimbabwe, may engage in debt restructuring negotiations if necessary. While negotiations take time, countries will be hesitant to move forward unless deemed necessary.
Overall, the report paints a bleak economic outlook for African countries in 2024 and predicts political instability in many regions.
For Ghana, it anticipates a transfer of power from the ruling New Patriotic Party to the opposition NDC in the upcoming elections.
However, it remains to be seen whether the report’s predictions will translate into reality.
Source: dailyguidenetwork.com
Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority. |
Hmmmm, after his embarrassing defeat in the 2016 elections, Mahama never thought of coming back to the presidency. Fortunately for him the actions and inactions of Akuffo Addo and his appointees makes Mahama look like a saint thus making Mahama believe that if what he ( Mahama ) is seeing is anything to go by then he was far far better. Am for NPP but i fear the 2024 elections. If there is/ was any one person Ghanaians had so much trust and confidence in , it is/was Akuffo Addo. Unfortunately he has squandered a golden opportunity to have made history for himself and family the Covid-19 and Russia/Ukraine war notwithstanding. I strongly believe Bawumia can make a lot of impact if he's in total control but will Ghanaians pardon him for the sins of his boss? A for message, every politician will tell you he or she has a message, but will the people listen? As for hearing, the people will hear, but will they listen? You will only get to know they didn't listen to you when counting of votes starts. John Mahama knows this very well from the 2016 experience. He campaigned until he lost his voice, we heard him but we didn't listen. This is the crux of the matter. If you are a minister, deputy minister, MP, CEO in the NPP government but have no biological children of your own who up to the voting age of 18 and above , simply ask yourself " who's 18 year old and above children are my relying on to queue to vote for the NPP to "break the 8" for me to continue to be a minister, deputy minister, MP or CEO. If you ponder over this when going to bed, the arrogant and empty pride one's may change their behavior and respect people who come their way, your continues stay in office rest on the shoulders of those ordinary people you drive past in the streets every day. But for their votes, majority of the appointees today would never have sat in a V8 land cruiser. We knew all of them before 2017, we stay in the same communities with them, some were work place colleagues, we were better off financially than some of them. They ( appointees) shouldn't forget where they are coming from. Bawumia is a very humble and promising man, but the appointees have left too much weeds on the path he's to walk to success. As to whether he can use less than one year to clear the path of all the weeds, time will tell.
Hahahaha hahahaha I laugh enter gotten self. Do you think we want to go back to dumso. Listen my brother. No government or president will give you pocket money but we need a government that would bring things like free SHS NHIS etc but not wonchedie government