Former President of Ghana, John Dramani Mahama has said management of the Ghana cedi is not about holding public lectures and propounding theories as against the reality, in what is seen to be a direct shot at Vice President Dr. Mahamudu Bawumia.
According to Mahama, Vice President Bawumia was naïve when he said “when the fundamentals are weak, the exchange rate will expose you”.
Dr. Mahamudu Bawumia while in opposition in a public lecture mentioned that the exchange rate then had exposed the incompetence of John Dramani Mahama’s administration for failing in properly managing the Ghanaian economy at the time.
However, taking over power, the New Patriotic Party(NPP) seem to have done little to arrest the fast running dollar against the cedi.
section of the media in a Facebook Live stream, John Dramani Mahama mentioned
that Dr. Bawumia was naïve when he made those comments.
To him, no country can be run with theoretical economics and taking over power has clearly taught Bawumia and Akufo-Addo that it takes practical innovation to run a country.
“I’m sure today they see the reality and I would’ve hoped that today, Bawumia would give another lecture at the Central University and say the same theoretical things he used to say.
“You don’t run an economy from textbooks; you don’t run an economy with economic lectures,” Mahama said Thursday evening in a Live Social media interaction.
“Today they come and set up a 40-man committee to understand why forex is [falling]. I mean a first-year university student will tell you and so you don’t need that FX Committee.”