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Ahead of Vice President Mahamudu Bawumias April 3rd lecture on the Economy, a leading member of the opposition National Democratic Congress (NDC) is branding the upcoming event as comic relief.
In a parody ahead of the lecture, Sylvester Adinam Mensah, former Chief Executive of the National Health Insurance Authority (NHIA) has predicted that the lecture will end up a failed attempt by Dr. Bawumia to sell a new lie du jour, after he had successfully used a choreography of lies and propaganda to convince Ghanaians into voting out the predecessor NDC government in 2016.
On the 3rd of April 2019, Ghanaians would eagerly tune in to radio and tv to listen to how NPPs leading Economist would be attempting to shift goal posts on the unstable state of Ghana’s economy. As you read this post, he is putting his propaganda soundbites together with great difficulty in his perpetual campaign mood. Someone should tell this man his campaign has been successful – the time to deliver is now! Indeed his earlier theories would expose him on the 3rd of April! Sylvester Mensah wrote.
The Vice President holds a lecture on the 3rd of April at the College of Physicians and Sciences in Accra. The conference is coming at a time that the NPP government has been receiving a lot of flak over what many see as a poor state of the Economy.
Among others, the local currency, the cedi, has been free falling against major trading currencies, especially the dollar. Governments recent response has been a band aid approach of borrowing more dollars to inject into the Economy, to shore up the cedi.
A clearly unsustainable approach, it has only managed to help the cedi shore up by some 0.4% gain margin. Governments contraction of a $3billion loan for the purpose has also been playing up as déjà vu on Dr. Bawumia, who had said on campaign platforms in the build up to the 2016 election that borrowing for development is a lazy mans approach and that former President Mahama, was incompetent for borrowing.
NPP leading Economist, kindly listen to yourself now as you write – are you denying there is a correlation between economic fundamentals and the exchange rate? Oh please there is! Or that there is indeed no causality between the two variables? Hahahahaha!
Are you now jumping onto a new theory of having strong economic fundamentals with exogenous factors affecting the exchange rate, or has the theory magically changed since you got involved in the management of the economy?
Oh yes, now the radical fall in the value of the Cedi against the major trading currencies is simply driven by capital flight or relative prices or financial tightening in most developed countries! Hahahahaha, keep writing!
Or is it the case that we are importing more than we export? Oh yes we all know! Or are you saying the relationship between the variables differ under the NDC ? Perhaps the demons you sought to exorcise under the NDC have come in full force to attack you! Then harken to the voice calling on you to repent for deliverance! Sylvester Mensah teased.
The unsuccessful aspirant to the 2020 Presidential ticket rubbed in the Vice Presidents infamous claim in the early days of the NPP administration that the government had arrested the cedi, locked it and given the keys to the IGP, asking whether, the cedis escape of the cells of depreciation is what has informed the governments decision to train party vigilantes at the Castle, for the purpose of re-arresting the cedi.
He also asked if the marginal gains made by the cedi calls for another kenkey party for Dr. Bawumia; a deliberate sneer at a supposed kenkey party that the Finance Ministry had organized to mark Ghanas successful borrow of a $3billion Eurobond and marginal appreciation in the cedis value.
Source: Whatsupnews Ghana