In 1992, with increasing pressure toward a democratic presence, The Provisional National Defense Council (PNDC) allowed a 258-member Consultative Assembly to be organized. The newly formed organization drew up a draft constitution establishing the Fourth Republic, receiving nearly unanimous public support in a national referendum that year.

The Fourth Republic was officially founded in 1993 with John Rawlings as president. In the 1996 elections, Rawlings once again successfully ran for president. After 19 years of leadership, and two terms of office, (the maximum allowed) Rawlings stepped down as president. Despite Rawlings popularity, during the 2000 elections, his former vice-president and hand-picked successor, John Atta Mills, was defeated by Joh Kufour of The New Patriotic Party. Kufuor was reelected in 2004.