{"id":981618,"date":"2022-02-08T13:33:47","date_gmt":"2022-02-08T13:33:47","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/02\/08\/bawumia-has-gone-into-hiding-silent-on-economic-mess-ofosu-kwakye\/"},"modified":"2022-02-08T13:33:47","modified_gmt":"2022-02-08T13:33:47","slug":"bawumia-has-gone-into-hiding-silent-on-economic-mess-ofosu-kwakye","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/02\/08\/bawumia-has-gone-into-hiding-silent-on-economic-mess-ofosu-kwakye\/","title":{"rendered":"Bawumia has gone into hiding; silent on economic mess \u2013 Ofosu Kwakye"},"content":{"rendered":"

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Felix Kwakye Ofosu<\/figcaption><\/figure>\n<\/div>\n

A former Deputy Minister of Communications, Felix Kwakye Ofosu, has reacted to the silence of Vice President Dr Mahamudu Bawumia on Ghana\u2019s economic challenges.<\/p>\n

According to him, he is surprised that the Vice President, who used to be very vocal about the economy, is now silent.<\/p>\n

Moody, a rating agency, February 4 released a report that downgraded Ghana\u2019s Long Term Issuer and senior unsecured bond ratings to Caa1 from B3 and changed the outlook from negative to stable.<\/p>\n

According to Moody \u201cthe downgrade is due to the increasing difficult task government faces in addressing the intertwined liquidity and debt challenges, pandemic induced revenue underperformance, tight funding condition on international markets, materially decreasing governance and institutional strength and inflexibilities in the government budget.\u201d<\/p>\n

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Mr Kwakye Ofosu, in response, noted that as the Head of the economic team, Dr Bawumia supervised the collapse of the economy, therefore, he doesn\u2019t want to talk about it.<\/p>\n

\u201cHe has completely disappeared from the economic team. He has gone into hiding, and he is avoiding discourse on the economy like the plague,\u201d he said while speaking on Metro TV.<\/p>\n

The National Democratic Congress communicator believes the Vice President should take responsibility for the mess created in the economy, accept the problem to get solutions.<\/p>\n

\u201cHe doesn\u2019t want to touch it with a long pole. He doesn\u2019t want to take responsibility for the mess that he has supervised,\u201d he said.<\/p>\n

In one of his arguments, he disclosed his disappointment in the government for going after credit rating agencies for their downgrade of the economy.<\/p>\n

\u201cThis is the most ridiculous and embarrassing I have ever heard any government make about a downgrade,\u201d he bemoaned.<\/p>\n

After the release from Moody on the downgrade of the country\u2019s economy, the government, as well as some officials, believe the downgrade by Moody was underpinned by a lack of groundwork by its Lead Analyst.<\/p>\n

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