A SUPPLEMENT TO EUROMONEY - MARCH 1997A West African showcaseAfter 40 years of independence, Ghana has emerged as one of Africa's leading economies. The re-election of Jerry Rawlings has led to a new confidence that the country can overcome remaining economic obstacles. By Philip Eade The January election victory of president Jerry Rawlings marks the beginning of the latest chapter in a remarkable story that began when this former fighter pilot seized power in 1979. Since then, he has turned himself from socialist coup leader into the twice democratically elected leader of the country with the most successful structural reform programme in West Africa. The extent of the vote for Rawlings he won 57.2% compared with the 39.9% obtained by his nearest rival, John Kuffuor confounded those who were predicting a close contest. Rawlings's National Democratic Congress party did even better, winning 130 of the National Assembly's 200 seats, raising the possibility that he might seek to change the constitution to enable him to run for a third term. Overall, the election went better than many people had hoped. Warnings of violence were not borne out, and international monitors expressed satisfaction at the efforts to ensure fairness, praising the election as a triumph for democracy, although Rawlings undoubtedly benefited from his grip on campaigning resources. |