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Politics of Monday, 23 December 2019


Bawumia knows nothing about economics – Ricketts-Hagan

Former Deputy Minister of Finance, Kweku Ricketts Hagan Former Deputy Minister of Finance, Kweku Ricketts Hagan

Former Deputy Minister of Finance, Kweku Ricketts Hagan says Vice President Dr Mahamudu Bawumia is very empty as regards knowledge about economics.

According to him, Dr Bawumia who was the former Deputy Governor of the Bank of Ghana does not understand the mathematics behind economics, adding that his incompetence is exposed in the economic statements he makes.

“Dr Bawumia made logic and that made me know he does not know anything about economics. He said when your fundamentals are weak the exchange rate will expose you. He thinks he’s clever when the reverse was the case he said no if your exchange rate is not good it doesn’t mean that the economy has exposed you and that this is warped logic. This is when I realized Bawumia doesn’t know anything. He doesn’t even understand the mathematics behind economics."

"In economics, we say everything being constant we, and so we assume that everything that affects the economy doesn’t move. If you make that mathematical statement that affects economics then it means that the reverse is also true that if the exchange rate exposes the economy, then the economy also exposes the exchange rate. A proper economist won’t say that if your fundamentals are not right the exchange rate will expose you without actually saying that there are other factors that you’re assuming has not moved. So Bawumia’s logic is rather warped, it shows he doesn’t understand economics,” Hon. Kweku Ricketts Hagan who’s MP for Cape Coast South said while addressing the opposition NDC party communicators.

The Central Region NDC Chairman, Lawyer E.K.T Addo speaking to Kasapa FM’s Yaw Boagyan on the sidelines of the event said that the NDC will ensure it unseats all the NPP parliamentarians in the region.

“All the twenty-three parliamentary seats in the central region will be ours after the 2020 general elections. What will happen in the 2020 general elections was shown in the just ended District Assembly Elections where the NDC won more of the seat in the various electoral areas. I am also advising the NDC party communicators to also work hard to bring the party into power come 2020 election.”

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