Ghana's Major Projects and Initiatives by Leadership
Major Projects and Initiatives by Leadership
Nkrumah Era (1957-1966)
Industrialization and Infrastructure Projects**: Nkrumah's government embarked on ambitious industrialization and infrastructure projects, including the construction of the Akosombo Dam, which was financed through external loans and significantly contributed to the increase in debt.
Acheampong Era (1972-1978)
Operation Feed Yourself**: This was a major agricultural initiative aimed at making Ghana self-sufficient in food production. The program required significant investment in agricultural infrastructure. Infrastructure Development**: Projects included road construction and improvements, which were often financed through external borrowing.
Rawlings Era (1981-2000)
Economic Recovery Program (ERP) and Structural Adjustment Program (SAP)**: These programs, supported by the International Monetary Fund (IMF) and the World Bank, involved borrowing to stabilize and restructure the economy. - **Infrastructure Projects**: Continued focus on infrastructure development, including roads, hospitals, and schools.
Kufuor Era (NPP, 2001-2008)
HIPC Initiative**: Ghana benefited from the Highly Indebted Poor Countries (HIPC) initiative, which provided debt relief and allowed for reallocating resources to social and economic infrastructure projects. - **National Health Insurance Scheme (NHIS)**: Introduction and expansion of NHIS required significant funding.
Mills and Mahama Era (NDC, 2009-2016)
Oil Discovery and Related Investments**: Following the discovery of oil in commercial quantities, there were significant investments in the oil and gas sector. - **Infrastructure Projects**: Continued investments in roads, schools, and healthcare facilities, often financed through external loans.
Akufo-Addo Era (NPP, 2017-present)
One District, One Factory Initiative**: This initiative aimed at establishing factories in each district to boost industrialization required significant investment. - **Free Senior High School Policy**: Implementation of free senior high school education increased public expenditure. - **COVID-19 Pandemic Response**: Increased borrowing to support the economy during the COVID-19 pandemic and to fund health sector improvements.
Ranking of leaders by the total amount of money borrowed
- NPP (New Patriotic Party) **: $273.92 billion
- NDC (National Democratic Congress) **: $219.30 billion
- Rawlings**: $84.19 billion
- Acheampong**: $5.86 billion
- Limann**: $2.68 billion
- Ankrah**: $0
- Nkrumah**: $0
Reasons for High Borrowing by NPP
The NPP borrowed the most money due to several key initiatives and circumstances:
- **Kufuor Era (2001-2008) **:
– **HIPC Initiative**: Involved borrowing for structural adjustments.
– **Infrastructure Development**: Significant investments in roads, schools, and healthcare.
– **Economic Reforms**: Secured loans from IMF and World Bank.
- **Akufo-Addo Era (2017-present) **:
– **One District, One Factory Initiative**: Required significant investment.
– **Free Senior High School Policy**: Increased public expenditure.
– **Infrastructure Projects**: Continued focus on development.
– **COVID-19 Pandemic Response**: Increased borrowing to support the economy and healthcare.