Bawumia, the current fragile state of Ghana’s economy can't be restored in a year

Bawumia1213131313 Vice-President, Mahamudu Bawumia

Sun, 9 Jan 2022 Source: Joel Savage

According to the Vice-President, Mahamudu Bawumia, the NPP government is committed to improving the depressed and fragile economy of the country this year.

This sounds like a fairy tale because five years have already passed, yet the NPP government couldn’t fix the depressed economy. What is a poor or fragile economy and how does it affect people?

Ghana is a country with vast mineral resources; unfortunately, the impact of corruption has destabilized its economy, causing a profound disruption of normal economic activity and a decline in business activity.

An economy can also be fragile when the government borrows more money than what the country earns in exports, especially, if the country is under heavy debt.

Therefore, the Vice-President’s assurance to Ghanaians that this year, the economy will be brought back to life sounds like a story.

Before the pandemic, Bawumia who had no idea of how to handle the economic crisis even though he claims to be an economist blamed Mahama for the crisis but has now shifted the blame to COVID.

Europe and America had their worst situations dealing with the coronavirus crisis, yet their economies remained stable, not in such a bad position like Ghana, despite the millions given to the Ghanaian government by the US government and the European Union.

Who will believe Bawumia’s assurances when everything that he says is full of lies?

He told Ghanaians that the Cedi will march equally to the dollar after arresting and locking up the dollar. I guess the dollar escaped from prison making Ghana’s Cedi a hopeless currency today.

The reality is that the hardship Ghanaians have experienced within the past five years under the NPP government is just the tip of the iceberg.

Nana Akufo Addo has four more years to go, which will be harder than when the Israelites were in the wilderness on their way to the Promised Land.

Columnist: Joel Savage