Former President John Dramani Mahama has declared that Vice President Dr. Mahamudu Bawumia’s Economic Management Team has failed.
Inflationary pressures, as well as the debt-to-GDP ratio and rising fuel prices, are, in his opinion, indicators of a mismanaged economy.
Ghana is on the verge of declaring bankruptcy, according to Mahama.
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According to John Mahama, the Vice President, who was once hailed as a “Economic Messiah,” has now become a poster boy for the country’s economic woes.
He went on to say that the EMT was directing the economy based on theoretical notions rather than real-world subtleties.
On May 2, 2022, the National Democratic Congress’s 2020 presidential candidate spoke at the Kempinski Hotel during a lecture titled “Ghana At A Crossroads.”
“It goes without saying that the Economic Management Team has failed and that it must be recreated as soon as possible, with new ideas and perspectives.”
“The current Head of the Economic Management Team (EMT) has clearly fallen from his ivory tower as a self-styled economic messiah to a poster boy for economic hardships, having supervised the worst public debt buildup, the worst budget deficit, the worst debt to GDP ratio, the worst credit ratings and downgrades, the worst performing currency in the world, the worst crisis of confidence in our economy, the highest fuel prices ever, ever-rising inflation, and unprecedented hardships.”
“He has lost sight of cause and effect links in the economic value chain, complaining that our dreadful economic situation is the result of bad ratings from international agencies rather than the fact that our disintegrating economy caused those bad ratings.”
“How can that reassure Ghanaians that he is focused on the issues that need to be addressed?” “The EMT has been befuddled by their own ineptness, enthusiasm, and excessive reliance on linear thinking of a theoretical cause and effect link, devoid of the practical consequences of complex real-life nuances,” stated John Mahama.