John Mahama
As Ghana prepares for its Presidential elections, the debate over economic policy has taken center stage and John Dramani Mahama, the National Democratic Congress (NDC) candidate, has been vocal in his criticism of the current administration’s handling of the economy.
However, his reluctance to debate Dr. Mahamudu Bawumia, his main competitor, has raised questions about his economic credibility.
The Debate Challenge
Dr. Bawumia, renowned for his economic expertise, has repeatedly invited Mr Mahama to a debate on economic issues.
The Institute of Economic Affairs (IEA) has also extended an invitation to both candidates to participate in a debate. Yet, John Mahama’s camp remains non-committal.
Mahama Asking Bawumia Questions
Interesting, the NDC flagbearer, John Mahama has unleashed a five-point economic indictment against Dr. Bawumia, his New Patriotic Party (NPP) counterpart.
Mr Mahama’s salvo targets Dr Bawumia’s stewardship of Ghana’s economy as Economic Management Team (EMT) chair, highlighting critical failures that have undermined the country’s financial stability.
The Five-Point Indictment:
1. _Cedi Free Fall_: Mahama demands answers on the cedi’s precipitous decline from GHC 4 to $1 in 2016 to almost GHC 17 to $1 today.
2. _Debt Bomb_: He questions Bawumia’s role in Ghana’s public debt explosion from GHC 120 billion in 2016 to GHC 763 billion in 2024.
3. _Inflation Nightmare_: Mahama seeks explanation for inflation’s surge to 54%, the highest in Ghana’s 4th Republic, under Bawumia’s watch.
4. _Central Bank Controversy_: He queries Bawumia’s borrowing of over GHC 42 billion from the Bank of Ghana, resulting in a staggering GHC 60 billion loss.
5. _Economic Silence_: Mahama asks why Bawumia has abandoned his economic lectures and why the word “economy” has vanished from his vocabulary.
Criticisms of Mahama’s Economic Record
Former President John Mahama’s economic policies during his presidency have been criticized for their ineffectiveness.
His administration’s handling of the economy was marred by inflation, currency fluctuations, and high unemployment.
In contrast, Dr. Bawumia has presented a comprehensive economic plan, focusing on fiscal discipline, private sector growth, and human development.
The Consequences of Avoiding Debate
By dodging the debate, Mr Mahama risks perpetuating the perception that he lacks a clear economic vision.
His criticism of the current administration’s policies will ring hollow if he cannot articulate alternative solutions.
However, Ghanaian voters deserve to hear a nuanced discussion on economic policy, not political rhetoric.
-BY Daniel Bampoe