Kofi Gunu, a communicator of the National Democratic Congress (NDC) and a known face in TEIN politics, has taken a swipe at Vice President Dr. Mahamudu Bawumia for his inability to fix the Ghanaian economy as promised.
According to him, the Vice President has failed woefully in managing the economy as the Chairman of the Economic Management Team, and has forcefully become an IT Guru instead of the Economist Ghanaians know him to be.
“The bad nature of the Ghanaian economy has forced Walewale Adam Smith to become an IT Guru'” Mr. Gunu Tweeted.
Many Ghanaians also believe that the economy is not on a sound footing as promised by Dr. Bawumia and his party, the New Patriotic Party (NPP) in their days in opposition.
According to Mr. Gunu, Dr. Bawumia has reduced the Ghanaian economy into what he described as a “debt trap”.
He also noted that Ghanaians are tired of hearing Dr. Bawumia’s Classical Economics theories.
“Dr. Bawumia should give us a break — we have heard too much of his classical Economics theories. He has reduced the economy into a “debt trap” with fiscal risks, external vulnerabilities and extreme hardship,” Kofi Gunu stated.
As it stands now, Ghana is the country most exposed to exchange rates in Africa and emerging markets, as a result of about 64% of its debts being in foreign currency with significantly low levels of net international reserves to cover the debt service obligations and portfolio reversals. The average in Africa is 20% making Ghana 200% above Africa average.