Ghana. The days following the New Year, John Atta Mills was declared a winner in the December 2008 presidential election. He received 50.23 percent of the vote in the second round, compared to 49.77 percent for Nana Akufo-Addo of the former New Patriotic Party (NPP) government party. The election of former Vice President Atta Mills of the National Democratic Congress (NDC) marked the second peaceful shift of power since Ghana transitioned to multi-party democracy in 1992. The NDC also gained a majority in the new parliament.
After the change of power, the Auditor General said that there was gross waste of public funds under the previous government. According to the report, the budget for celebrating 2007 was exceeded by the country’s 50th anniversary as an independent state by several hundred percent. The new government claimed that it had in principle taken over a bankruptcy estate. According to countryaah, President Atta Mills promised to cut down on all luxury consumption within the government administration.
The International Monetary Fund (IMF) granted Ghana a three-year loan of US $ 600 million and also approved that the country withdraws up to US $ 450 million from the currency basket fund of so-called special drawing rights to which a large number of countries have contributed, and which has been extended by the major industrial countries in G20 cooperation to alleviate the impact of the global economic crisis on poor countries. The IMF considered that Ghana, as a major cocoa producer and major gold exporter, has great opportunities for relatively rapid economic recovery.