Alex Bossman Baafi
During the Ferdinand Ayim Memorial Lectures on May 2, 2012, the Vice Presidential Candidate of the NPP expertly observed that the economy of Ghana was being mismanaged by the then NDC government and cautioned that if care was not taken the fiscal management of the country would paralyse. That sincere observation Dr. Bawumia made opened the flood gates for many opinion leaders in the NDC government to assassinate his character for revealing the truth that had been covered with propaganda by the officials of the then Mills-Mahama Administration.
Since truth cannot contradict itself less than a year down the line, Dr. Bawumia’s humble observation has become a reality. Today our economy is in tatters due to indiscipline economic management of the resources of our country by now the Mahama led administration. The economy now is in shambles, a fact that has been acknowledged by the President Mahama himself that now the meat is down to the bones.
Dr. Mahamudu Bawumia came out with his revelations again last Wednesday when speaking at the Aliu Mahama foundation (AMF) on the theme “Discipline in Economic Management, the key to sustainable growth and prosperity.” It was during this occasion that he proved to his critics that really “the mind is the measure of a man”. He brilliantly and carefully analyzed the management of our economy since independence to date. Manny well-meaning people would be impressed with his lecture that will serve as rich source of information for our students reading Economics, History, Finance and those undertaking research work.
Dr. Bawumia actually underscored the importance of discipline when it comes to the management of an economy. He observed because of indiscipline, though NDC government is the first to have access to oil revenues, she is finding it notoriously difficult to meet her statutory obligations toward the payment of public sector wage bills, GETFUND, NHIS, School Feeding Program and District Assemblies Common Fund, DACF. He wondered why a Social Democratic government of Mahama Administration could leave the pro-poor initiatives such as Maternal Care, National Insurance and School Feeding introduced by the NPP administration purposely to protect the poor, the marginalized and the vulnerable to deteriorate. Dr. Bawumia revealed that despite having had access to more tax and non-tax revenues the NDC government has borrowed more than any government in our history. Because of economic mismanagement, the budget deficit reached GH8.7 billion that was 12% of GDP at the close of 2012. This he noted is the highest recorded budget deficit in our country’s history. He shockingly revealed that the deficit would have been able to finance seven years of free secondary school education in our country.
As part of his discourse, the NPP 2012 Vice Presidential mind constructively suggested a way out of what he called NDC “Akomfem Socialism”. He noted that what has crippled the economy was the level of rot and corruption that had engulfed Mahama-led administration. He proposed that the responsibility of procurement of goods and services contracts should be outsourced to an independent body composed of reputable professional, local and international procurement institutions and experts in addition to civil society.
What is worrying is that instead of the economic and political leaders of the government using Dr. Bawumia’s delivery as a point of sober reflection and begin to right the wrongs for the betterment of the country, they have resorted to name calling and character assassination again. What a shame. What have the good people of our country done to deserve such reckless dissipation of our meager resources by this incompetent NDC government?
We have this fine mind in the person of Dr. Bawumia in our contemporary socio-political and economic time. A mind that is recognized worldwide. A mind that has been harnessed by other countries beyond our borders for economic salvation, but a mind that is being assassinated by this corrupt NDC government apologists for political expediency. How can Dr. Bawumia be ignorant of issues relating to macroeconomics as certain NDC characters want us to believe.
What the people in governance should remember is that governance is a trust of the people and they would be held accountable to the people at the right time. Therefore, beyond the shame and disappointment of the Supreme Court verdict, the government should govern with an open mind and be bold to embrace workable solutions as proposed by Dr. Bawumia because Akomfem Socialism is really a journey to nowhere in this 21st century.
Dr. Bawumia’s mind is one of the finest in the world and no amount of vilifications or witchery can ever prevent him from speaking the hidden truth. He will always be measured by his mind.