Bawumia sets records straight on his role in Ghana’s economic management

The role of Vice President Dr. Mahamudu Bawumia in Ghana’s economic management of Ghana’s economy has been a major subject of public discussion over the past few weeks.

A faction of the public who supports the Dr Bawumia’s presidential bid, argues that he cannot be blamed for the current economic mess the country finds itself in because his role as vice president is merely advisory.

The other half of the public, mostly neutrals and proponents of other presidential hopefuls, say that Dr Bawumia, the flagbearer of the ruling New Patriotic Party (NPP) is very responsible for Ghana’s economic mess because President Nana Addo Dankwa Akufo-Addo categorically stated that he made him (Dr Bawumia) is partner because of his economic prowess and even praised him when the economy was doing well.

The NPP flagbearer has now clarified his role in the management of Ghana’s economy.

Speaking at a campaign event to declare his vision to Ghanaians on Wednesday, February 7, 2024, Dr Bawumia said that his role as the head of the Economic Management Team (EMT) of the country was merely advisory.

He said that the EMT has no power when it comes to the implementation of economic policies; adding that he is however proud of the advice he gave the policy implementers.

“I was, thankfully, appointed as Chairman of the Economic Management Team (EMT). As a sub-committee to Cabinet, we do not have any decision-making powers, but I am very proud of the quality of advice we have been providing over the years to Cabinet,” he clarified.

The vice president also indicated that the Minister for Finance, Ken Ofori-Atta, is responsible for the running of Ghana’s fiscal policies and the Governor of the Bank of Ghana, Dr Ernest Addison, for the implementation of Ghana’s monetary policies.

He said that his focus was on digitalizing Ghana’s economy to surmount the age-old challenges that have been befalling the country.

“So, when we assumed office in 2017, as Vice-President, I made the decision, with the blessings and support of the President, to focus on the critical but underdeveloped systems that would expand the economy, improve systems, and create jobs through digitalization.

“Therefore, as the Minister for Finance oversees the budget (fiscal policy) and the Governor of the central bank also focused on monetary and exchange rate policy, I focused on the complementary data and systems 22 improvements that would ensure the ease of doing business and change the fundamentals of the economy, making it more dynamic and responsive to modern trends, and the management of it more scientific and efficient,” he said.

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