It is high time Ghanaians, Perhaps, Civil Society Organisations (CSOs), academia and any other intellectual community came out to put the vice President, Dr. Alhaji Mahmudu Bawumia in his right place. He must be made to understand one thing; elections are over, he is in power for five year now, and must speak to through his works, not keep campaigning from the position of power.
It seems to me, that the vice President, who is the Chairman of Ghana's economic management team, is still living in the campaign mood. Someone must remind him, that the National Democratic Congress (NDC) lost power five years ago. Despite the fact that, the NDC remains the only prospective alternative to the NPP, it is an insult to keep making the NDC the bench march. That is mediocrity and an attempt to hide the NPP's own incompetence.
The above comment has been necessitated by Dr. Bawumia's recent comment at the university of Cape Coast (UCC) on Ghana's inability to manage its debt.
Dr. Bawumia, ostensibly noted that, even though the debt is rising to an unsustainable level, other variables of the economy, like the FX rate, growth, interest rate, are looking good statistically. This, according to him, is an indication of good economic management skills.
With this explanation, I concluded that, the once touted economic guru is probably losing his steam. You don't need to be an economist to analyse and realised the man is throwing dust into the eye of the public. I shall use two scenarios to expose his deceit.
First was the issue of the FX rate. The dollar to cedis depreciation. As the running mate going into the 2016 general election, he said clearly that, if the fundamentals of tour economy is weak, the exchange rate will expose you. You remember? Then, when the exchange rate whipped him as vice President, he concocted some confusion explanation to explain himself. Till date, nobody has understood that artificial rationalisation.
Another point he kept making as a running mate was that, the then NDC's 56% debt to GDP ratio was a disaster. Now, with him at the helm of affairs, Ghana's debt to GDP ratio is pegged at 76.6%. You read right. And the explanation for this is what he said at UCC.
At this point, we don't have to examine the other variables he alluded to. People's living conditions have deteriorated. Standard of living keeps lowering. Number of unemployed youths and graduates keep piling up. Yet, Dr. Bawumia keeps referring us to the NDC era. Is that his solution?
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