(Bloomberg) -- Many Ghanaians — facing high living costs — showed their displeasure toward the handling of the economy by staying away from polling stations on Saturday.
Voter turnout is “hovering around” 61%, Deputy Electoral Commissioner Samuel Tettey said in an interview. A clearer picture would be available on Sunday, he said. Participation in the 2020 elections stood at 79% from 69% four years earlier. There are 18.7 million registered voters, according to the election body.
Surging prices of food, housing and clothing were in focus for residents of Africa’s biggest gold producer as they voted. While both leading presidential aspirants have similar manifestos, lower voter turnout may benefit the opposition’s John Mahama, according to Bright Simons, an analyst with Imani Centre for Policy and Education. Under President Nana Akufo-Addo inflation accelerated at the fastest pace in almost two decades and the nation’s debt burden surged. The economic crisis may weigh on the ruling party’s candidate, Vice President Mahamudu Bawumia.
“A dip in turnout often signals serious disenchantment, which afflicts the base of the incumbent more than that of the opposition,” Simons said in an email response. “It is a feature of the extreme polarization in Ghana.”
President Akufo-Addo, who’s stepping down after his last four-year term, borrowed heavily to implement his programs, including a sweeping banking sector cleanup exercise that led to the shutdown of hundreds of financial institutions and thousands of job losses.
By December 2022, the government could no longer service its obligations, which had reached almost 100% of gross domestic product. It was forced to reorganize its debt to qualify for a $3 billion International Monetary Fund bailout program. Inflation jumped to more than 50% before easing to 23%, while the currency depreciated more than 60% to the dollar.
The vote was generally peaceful and transparent, apart from isolated incidents of violence, including a shooting incident that killed one person, Tettey said.
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