The economy of Ghana keeps getting downgraded as the lives of Ghanaians get worse. This alarm was first raised by the opposition National Democratic Congress. Indeed, some economic experts also alluded to this but the government in power insisted that all was well. Indeed, it took a last minute effort for the leaders of the nation to make a U-Turn and run to the IMF. The institution is expected to help the country by close of the year. Many Ghanaians are complaining about their living conditions and consistently calling on the government to do better.<\/p>\n
Ghana\u2019s inflation for August stood at 33.9% and many expect it to hit above 35% when the September version is released. Interestingly, major financial institutions like the World Bank, Fitch, Moody\u2019s and Standard and Poor have all downgraded Ghana\u2019s economy. Currently, Ghana\u2019s debt to GDP ratio stands is expected to hit an abysmal 104% raising questions about low the economy has fallen. <\/p>\n
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Former deputy Communications Minister, Felix Kwakye Ofosu had laid all the blame at the feet of Vice President Bawumia. According to him, Bawumia who touted himself as the economic whiz kid has failed and should be taught a lesson. His medium of lesson is that Ghanaians should reject him in the 2024 elections.<\/p>\n
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Though Bawumia hasn\u2019t yet won the nod to lead the NPP, many feel his chances are high as compared to Alan and many NDC communicators keep hitting hard and criticizing his role as the head of the economic management team. According to Felix, the excuses Bawumia is giving regarding Covid-19 and the Ukraine Russia war are not tenable and should be disregarded by Ghanaians.<\/p>\n
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The NDC may not be the only ones attacking Bawumia for how the cedi has fallen. Prof. Steve Hanke, an economist at the John Hopkins University has also said that Bawumia isn\u2019t a problem solver but rather a catalyst for creating problems. Interestingly, the president feels Bawumia is the right person to lead and has praised his Vice on a number of platforms. However, the question is, is John Mahama a better alternative?<\/p>\n
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