A leading member of the opposition National Democratic Congress (NDC), Felix Kwakye Ofosu, says the widespread public outrage against the economic challenges in the country, has finally compelled a reaction from the Vice President, Dr. Mahamudu Bawumia.
According to him, “incessant pressure has finally smoked Bawumia out of his rat hole after running away from economic commentary like a plague”.
In a Facebook post on Wednesday, the former Deputy Information Minister accused Dr. Bawumia of plunging the country’s economy into a deplorable state as the Head of the Economic Management team.
“His horrible mismanagement of the economy has resulted in the worst public debt, worst budget deficit, worst debt to GDP ratio, worst performing currency in the world after the Russian ruble, runway inflation, worst ever credit ratings, loss of access to the international bond market, unprecedented accrual of arrears, unparalleled economic hardships, rising cost of living and dozens of killer taxes”, portions of his post read.
Mr. Felix Kwakye Ofosu’s remarks were in reaction to an upcoming address by Dr. Bawumia on the state of the economy on April 7.
Speaking in an interview on Accra-based Asempa FM on Tuesday, March 22, Dr. Gideon Boako noted that Dr. Bawumia will speak on the economy at a public forum in Cape Coast.
“The Vice President, Dr. Mahamudu Bawumia, will speak next month, in April 2022, also at a platform somewhere in Cape Coast, for you to see that the Government has rolled out a plan to deal with the issues”, he said.
There have been calls for Bawumia as the leader of the Economic Management Team to publicly address the raging economic challenges, including price hikes on fuel and commodities and continuous depreciation of the Cedi.
The Vice-President is expected to address how several factors, including the COVID-19 pandemic and Russia’s invasion of Ukraine which have largely contributed to economic meltdown across the globe, have impacted the Ghanaian economy, as well as measures the government has taken to address the situation.
Prior to the outbreak of the coronavirus pandemic in 2020, the economy was thriving with positive indicators and earning positive ratings from global economic watchers.
But the situation became different when COVID-19 set in with Fitch rating Ghana’s economy as B-.
However, critics of the Vice President, especially members of the opposition NDC, have incessantly demanded that the Vice President breaks his silence on the worsening economic conditions in the country.
But ahead of the Vice President’s address, Felix Kwakye Ofosu has already expressed his reservations about the address.
“Expect him to be limited to ridiculous excuse making to shirk responsibility for the economic catastrophe and the falsification of economic theories in an attempt to explain away his disastrous performance as the very worst Head of the Economic Management Team. He will run back into his favorite rat hole because we will be ready”, he added on his Facebook post on Wednesday.