You are so naive on economic matters - Adongo slams Bawumia
Vice President of Ghana, Dr Mahamudu Bawumia
• There's an intellectual banter between Dr Bawumia and Adongo
Read full article• Isaac Adongo describes some comments made by Dr Bawumia while justifying the state of the economy as absurd
• He wonders if government will use inflation to pay the high public debt
Member of Parliament for Bolgatanga Central, Isaac Adongo, has accused Vice President Dr Mahamudu Bawumia of being ignorant about the fundamentals of the Ghanaian economy.
His comment comes after Dr Bawumia in a video gone viral on social media averred that inasmuch as there’s a rising public debt, the Akufo-Addo led government is doing its best to stabilize the local currency and the economy is gradually picking up to the extent that there’s been an improvement in the standard living of Ghanaians.
Reacting to this in an article sighted by GhanaWeb, Mr Adongo said, “Dr Bawumia is so naive. Will he use inflation and exchange rate to pay for the debt? I am at pains to see how unsustainable debt levels that pose high risks of default could achieve any of those variables he listed above.”
“Real practice over the last couple of years has exposed Dr Bawumia's lack of appreciation and technical deficiency in risk-based public debt management. Hence his consistent recourse to rate of debt accumulation and debt to GDP, even though important, are intermediate variables to measure the performance of risk-based debt management,” he added.
The lawmaker furthered that Dr Bawumia is insensitive to the plights of Ghanaians and the future generation as he wondered how they will pay or his mess and the economic implications of the unsustainable debt burden on the public purse.
