The Member of Parliament for Bolgatanga Central, Isaac Adongo, has attributed Ghana's current economic hardships to the failures of the Vice President, Dr. Mahamudu Bawumia.
He stated that the renowned economist was touted as an economic wizard who had the solution to make Ghana's economy stable.
But, the country's current situation does not depict such.
Blaming the Vice President he said, "in all of
Read full article.this, the context must clearly situate the main person behind the current economic anxiety and the mess we face."
Adongo stated that the economic policies implemented by President Nana Addo Dankwa Akufo-Addo were influenced by Bawumia, however, these policies have not yielded the intended results.
In an article authored by the Bolga Central MP, he wrote: "Aside from his divisive politics, it is also quite clear that a significant portion of the economic policies implemented by the NADAA government is touted Bawumia ill-conceived ideas."
"Do you remember the one district, one dam, one constituency, one million cedis, the development authorities as they then were, the quite clearly botched synohydro credit facility that had a shifting figure from 20 billion dollars to its current meager amount, and the bullish increase in the participation of foreign entities in the local bonds market?" he added.
Explaining further, he noted that these initiatives have either failed or have only been able to offer temporal solutions to the economy's problems.
"These initiatives were problematic on several fronts," he said.
1. They only sought short-term reliefs, which were unsustainable with the dire consequence we face presently as an outcome. For instance, our exchange rate has suffered massively anytime international investors panicked and seek to move their funds.
2. They introduced unnecessary friction into the public sector bureaucracy, especially the disastrous development authorities and the supposed initiatives of about a million cedis per constituency. Why for instance was NABCO not situated under the national service scheme or YEA?
3. Were costly and a massive waste of money with no clear sustainable medium to long-term impact on social equity, upward economic mobility, improvement in livelihoods, and business growth.
4. Exposes Bawumia as a person who is not susceptible to reasoned argument, unwilling to engage experts, especially within the public sector bureaucracy, and who has dissenting opinions," he detailed.
He also accused the Vice President of deliberately avoiding discussions on "the economic mess he has created" and is seeking to find new allies and new stuff to occupy his time."
Isaac Adongo and Vice President Dr. Bawumia
