Ghana’s Vice President Takes Intention at High Job With Digital Shoutout
(Bloomberg) — Ghanaian Vice President Mahamudu Bawumia, vying to be the West African nation’s subsequent chief, touted know-how as key to attaining a smaller and extra environment friendly authorities.
Bawumia, the ruling New Patriotic Get together’s candidate in presidential elections to be held in December, mentioned digitalization was the best way to repair the economic system’s issues as he launched his marketing campaign within the capital, Accra, on Wednesday.
He additionally pledged to scale back the cupboard to lower than 50 ministers and deputy ministers, if he received the vote.
“I’m desperate to serve. I’m able to work. I’m decided to make a distinction,” he mentioned within the textual content of his ready remarks. “I’ve readability in my thoughts as to what I need to do from day one for those who make me President. I can’t ask for a honeymoon.”
President Nana Akufo-Addo will step down after serving his second and last time period. Bawumia, 60, is competing for the highest job with former President John Mahama, who’s operating for a fourth time. If elected, Bawumia, who’s the primary economist in Ghana’s 66 years of independence to steer a significant get together, will face the duty of pulling the nation out of disaster.
Africa’s largest gold producer is reorganizing most of its $47 billion public debt to satisfy the circumstances of a $3 billion bailout program from the Worldwide Financial Fund. The federal government halted funds on most of its exterior debt, together with $13 billion in eurobonds, simply over a yr in the past. Ghanaians are additionally tackling rising dwelling coasts, with inflation hovering above 20%.
Boosting Reserves
Bawumia would purpose to extend gold manufacturing to stabilize the trade fee of the native foreign money, the cedi, and cut back the nation’s dependence on world debt markets.
He would additionally leverage know-how to enhance the tax-to-gross home product ratio. At 14%, the ratio stays beneath the typical of 33 African nations, in accordance with Group for Financial Cooperation and Improvement knowledge. He would nevertheless scrap a controversial levy on digital transactions launched lower than two years in the past.
“My administration will introduce a quite simple, citizen- and business-friendly flat tax regime,” Bawumia mentioned.
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Printed: 08 Feb 2024, 12:31 AM IST
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