It is unfair to blame Bawumia for Ghana's economic challenges - Osei Kyei- Mensah-Bonsu

The Member of Parliament for Suame, Osei Kyei-Mensah-Bonsu, has defended Dr. Mahamudu Bawumia, the New Patriotic Party (NPP) flagbearer, from criticisms attributing Ghana’s economic challenges to his leadership.

In a recent interview on Hot Issues on TV3, he argued that holding Dr. Bawumia solely responsible for the nation’s economic difficulties is unfair, pointing out that the management of the economy lies primarily with the President.

He explained that Dr. Bawumia’s role, while influential, remains advisory within the Cabinet framework, adding that under Akufo-Addo’s administration, the Finance Committee is not chaired by the Vice President.

"Why are you conspiring to lay blame on Dr. Bawumia. We are a collective group of cabinet, and he is part of it, even the constitutionalist set functions for the president. In 1996, everything was removed under Jerry Rawlings when he had the problem with the then Vice-President.

"So, the position of the Vice President is to just advise his boss. The buck stops with the boss. So, if there is any credit it goes to the President, you may blame the regime, the President. To say that this man had expertise in this field, so, let's hold him accountable if most unfortunate," he stated.

He further reflected on the economy noting periods of economic growth that had not been solely attributed to Dr. Bawumia, particularly during years when the economy grew by approximately 7%.

In contrast, he pointed out that the recent economic downturn arises largely from the global challenges posed by the COVID-19 pandemic and the Russia-Ukraine war.

"I am insisting that ultimately the buck stops with the president and not the vice president. 2017, 2018, when the economy was growing at 7 percent averagely did you attribute that to Dr. Bawumia?

"Whereas our association with the IMF was edging up from 0.2 percent to close to 2 percent and last time around, we were thinking that we would be able to grow at 1.5 percent."

Osei Kyei-Mensah-Bonsu expressed optimism about Ghana's economic recovery noting signs of gradual improvement.

"This year, we projected it to grow at 1.5 percent, and it is estimated that we grow beyond 3 percent, that what we projected in the budget, and it is expected to plateau in 2028. By this growth pattern we are expected to bounce back by 2025," he noted.

The economy witnessed a downward trend in 2020 after the country was hit by the coronavirus pandemic.

In response to the economic challenges arising from the pandemic and the Russia-Ukraine war, the government implemented measures to restore stability.

One key measure has been seeking financial assistance from the International Monetary Fund (IMF) for a three-year period.

Despite these efforts, Ghanaians continue to face significant hardships, including rising costs of living and doing business.

In response, the government has sought to stabilise the economy, including securing a three-year financial support package from the International Monetary Fund (IMF). Despite these measures, Ghanaians continue to face inflation and rising costs, although Kyei-Mensah-Bonsu expressed hope that growth projections indicate a recovery by 2025.

JKB/ ADG

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