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General News of Friday, 9 September 2016


Intelligent Bawumia knows Ghana’s economic needs – Akufo-Addo

The vice-presidential nominee of the New Patriotic Party (NPP), Dr Mahamudu Bawumia, is brilliant and understands what Ghana needs economically, Nana Addo Dankwa Akufo-Addo, presidential nominee of the NPP, has said.

According to Mr Akufo-Addo, his decision to select Dr Bawumia as his running mate was informed by his brilliance and intelligence on economic issues as well his understanding and appreciation of what Ghanaians need economically to transform their lives.

Dr Bawumia, a former Second Deputy Governor of the Bank of Ghana, on Thursday September 8 delivered a public lecture on the theme: ‘The State of the Ghanaian Economy – A Foundation of Concrete or Straw.’

During the lecture, Dr Bawumia, among other things, said: “By the end of 2008, following the adoption and implementation of the HIPC initiative, the government’s policy framework of fiscal discipline, the country’s debt-to-GDP ratio, had declined from 189% in 2000 to 32% of GDP by 2008. Indeed from independence in 1957 to 2008, Ghana’s total debt was GHS9.5 billion. However, in the last seven years alone under this NDC government, Ghana’s total debt has ballooned from GHS99.5 billion to GHS100 billion in 2015 and GHS105 billion by May 2016. In fact, 66% of Ghana’s debt from independence has been accumulated under the presidency of John Mahama in just the last three and half years.”

Reacting to the lecture, Mr Akufo-Addo tweeted: “There is a reason why @MBawumia is my running mate. He is intelligent and understands what Ghana needs economically. Great presentation.”