We are tempted sometimes to question the economic credentials of Dr. Mahamudu Bawumia, many times, he had engaged in arm chair doom predictions on the economy and the country, and he wants to be the Vice-President.
In most instances, his predictions had falling flat in the face of sound economic policies embarked upon by the Government.
As an economist and someone with first hand information on monetary policy, it was incumbent on him, despite his political affiliation to remain true to the figures available.
Addressing a fund-raising dinner held in his honour in London, United Kingdom, last Friday, Dr Bawumia lamented that “There’s suffering in the land. Needless, untold sufferings…”
“In the last six years, the NDC has borrowed US$27 billion. Before that, we, the NPP, borrowed a total of US$5.5 billion in eight years. Compare that to the NDC borrowing $27 billion in six years and ask yourself what they have done with all that money,” the running mate to Nana Akufo-Addo, told the heavily attended annual fundraising dinner of the NPP UK branch.
We cannot verify or deny the figures being churned out by Dr. Bawumia, our surprise is in the fact that he makes it sound as though borrowing was wrong. As someone, who deputized at the Bank of Ghana (BoG), should be the first person to advocate for borrowing.
When Government borrow money, the money is not used for tea party or shared among appointees, but rather it is reinvested into economy ,social infrastructure and ventures that will yield returns.
We understand his frustrations and his new found love in figures, having gone through a grueling cross-examination by astute lawyers at the Supreme Court, in a matter he and two others brought before the court, it is obvious that figures no longer make sense to him.
Should God forbid, they come into office, where does he think they will get money to govern the country?
No creditor, will advance credit to you, if you do not have the ability to pay, the country is still credit worthy, because the Government is pursuing sound economic policies to pay back the loans, beside the fact that we have not even used thirty percent of our natural resources.
Dr. Bawumiah, must spare us his twisted economic facts, we know he can’t wait to be Vice-President, a dream that will only remain a dream.