Grapevine

Jerry Afolabi: Why change of government is necessary to reset the Ghanaian economy

The debate over whether a change of government is necessary to reset the Ghanaian economy hinges on several key arguments. Proponents of this view often cite the need for fresh leadership, new economic policies, and a break from the failures of the current administration.

While a change in government is not a guaranteed solution to the economic challenges faced by the country, it can provide an opportunity to reset the direction of economic policy, address governance issues, and implement necessary reforms. However, the success of such a change depends on the new government’s ability to effectively manage the economy, maintain stability, and earn the confidence of both the public and international stakeholders. The current government have created a mess of the economy and the judiciary.

The impact of new leadership in government on economic policy in Ghana can be significant, as it often brings changes in priorities, strategies, and approaches to managing the economy. Whereas the impact of new leadership on economic policy in Ghana can be profound, there is no guarantee that the new government’s policies and initiatives can shape the direction of the economy for years to come.

The actual outcomes depend on the effectiveness of the policies implemented, the ability to manage external and internal challenges, and the level of public and institutional support. Successful economic leadership requires not only sound policy design but also effective execution and a long-term vision for the country’s development.

In Ghana's Fourth Republic, which began in 1993, changes in government have had significant impacts on the country's economic, social, and political landscape. The Fourth Republic has seen several peaceful transfers of power between the two major political parties, the National Democratic Congress (NDC) and the New Patriotic Party (NPP). Each transition has brought shifts in policy, governance style, and economic priorities. Here’s a look at the historical impact of these changes in government in the Fourth Republic.