Bawumia with Chief of Bunkpurugu
Dr. Mahamudu Bawumia is set to provoke his political opponents and followers of the twists and turns of the local economy when he makes a presentation on the theme, “The State of the Ghanaian Economy: A foundation of Concrete or of Straw.”
Such presentations have often triggered polemic reactions from the other side of the political divide. Koku Anyidohu, deputy general secretary of the ruling National Democratic Congress (NDC), is one personality who thinks Dr. Bawumia feeds Ghanaians with lies and recently threatened to drag him to the court of law, a threat he (Anyidoho) has failed to make good.
Most Ghanaians do not agree with the NDC deputy general secretary.
Dr Bawumia is, however, credited with postulating that applying propaganda in fiscal matters will be exposed with the realities in the course of time.
The NPP vice presidential candidate is scheduled to make a presentation on the state of the economy on Thursday, September 8, 2016, a post on his official Facebook and twitter accounts have announced.
Dr Bawumia, former Deputy Governor of the Bank of Ghana, is well versed in the field of economics that his grasp of the local economy, vis-a-vis the international community, is not in doubt.
His experience notwithstanding, his political opponents, especially Koku, think he does not deserve the stature he has earned for himself.
The presentation is a high-notched one and would be chaired by former President John Agyekum Kufuor.
The event is scheduled to come on at the Accra International Conference Centre at 4.00 pm on the said date.
He predicted in 2012 during a similar discourse that the prevailing management of the economy would trigger far-reaching negative consequences.
That was one of his best presentations, especially when his prophesy about a fall in the cedi and a huge debt burden, among others, came to pass.
“The rebasing of our GDP, along with the discovery of oil and increases in cocoa and gold prices, have together relaxed the borrowing and foreign exchange constraints that have historically faced the Ghanaian economy. In this regard, policy makers, if not cognizant or prudent, can be tempted to increase government borrowing significantly without an accompanying increase in the liquidity and capacity to service such borrowing. Should this happen, as it appears to have, it will place pressures on the country’s foreign exchange reserves and would likely lead to a depreciation of the currency,” Dr Bawumia noted.
The foregone was part of the high points of his presentation at the time, providing a lot of stuff for scholars and the international community, especially the donor community, to ponder over.