“You
have these empty barrels going about making noise creating impression
of being intelligent, of being competent. And this person actually is
making noise about knowledge of economy…The life of President Aliu
should actually be a signal to him that the same people who are making
him look like a hero today have a history (of dumping people) and if
Bawumia cannot learn that lesson, it simply shows that clearly he’s not
learning quick enough,” Fifi Kwetey.
Fifi Kwetey,
Minister of State at the Presidency in charge of Financial and Allied
Institutions, has launched a blistering attack on the NPP's 2012 Vice
Presidential candidate, Dr. Mahamudu Bawumia, over his remarks about the
economy; labeling him as an "empty barrel" and an economist who only
gives an impression of being "intelligent."
Fifi Kwetey, speaking in an interview with Radio Gold,
chastised the NPP guru for claiming that the Socialist Democratic
Ideals of the ruling National Democratic Congress are nothing to write
home about.
Dr. Bawumia termed them as ”Akonfem Socialism."
Delivering
a speech during the one year memorial lecture to commemorate the life
of the late Vice President Alhaji Aliu Mahama, he bemoaned the poor
administration of President John Dramani Mahama.
According to Dr.
Bawumia, the current government lacks the fiscal discipline to revamp
the economy claiming that "Ghana’s total public debt has increased from
GHC 9.5bn in 2008 to GHC43.9 billion as at August 2013 (an increase of
357% in less than 5 years)! Mr. Chairman, the NDC government has
borrowed the equivalent of $20 billion in just the last five years!..."
“What
is worrying is that they tell us that this is only the first gear! Can
you see or feel that $20 billion dollars has been pumped into this
economy in the last five years? Where are the projects to show for the
$20 billion? Just imagine the transformational effect if every region
were given $2 billion for development projects...
“At the end of
2008, the government budget deficit to GDP ratio stood at 6.5% (after
the rebasing of GDP). This outcome was described by the NDC as bad
fiscal management. By the end of the election year 2012, the budget
deficit had reached some 12% of GDP (after rebasing of GDP). This is
double the deficit in 2008 which the NDC described as reckless!
Interestingly, Mr. Chairman, today the NDC government’s objective in the
medium term is to get to a budget deficit to GDP ratio of 6.5%, the
same as was the case in 2008, which they called reckless! This is what
is called reverse gear, not first gear,” the former Deputy Governor of
the Bank of Ghana said.
But addressing the issue, Mr. Kwetey
vehemently opined that the former Deputy Governor of the Bank of Ghana
completely "made a departure” from making “sound analysis of any
economy. And basically, he’s doing as much of the gutter politics as
people like Sir John and the NPP.”
Corroborating his claims in
the interview, he explained that the NDC government has made several
interventions to boost the progress of the economy. He stated that the
government worked assiduously to attain a single digit inflation rate,
in three years for the economy and also strengthened Ghana's currency
against the US dollar.
In view of Dr. Bawumia's comments, the
State Minister insisted that the renowned economist is bereft of
knowledge and lacks competence.
“You have these empty barrels
going about making noise creating impression of being intelligent, of
being competent. And this person actually is making noise about
knowledge of economy…The life of President Aliu should actually be a
signal to him that the same people who are making him look like a hero
today have a history” of dumping him, and “if Bawumia cannot learn that
lesson, it simply shows that clearly he’s not learning quick enough.” |
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