The Caucus for Democratic Governance, Ghana (CDG-GH) is following with interest, the public outcry over issues of governance. Invariably the fundamentals of the macroeconomic system under Dr Bawumia have badly gone wrong and are militating against economic progress. The depreciation of the cedi has crossed all limits and is driving import levels into the danger zone.
Within 21 months of Nana Addo`s Government, the cedi has lost 36% of its value. Seven Banks have collapsed and many more are showing signs of weakness. Interest rate is high and so is the default rate. While interest rate is one digit in developed countries, interest rate in Ghana is double digit (34%). Fuel price has increased by over 10 GHC; about 40% increase since 2016. Cost of food in our markets is high; and cost of living is pushing many Ghanaians into the poverty brackets. Mr President what has gone wrong? Don`t you have solutions?
In spite of 36% loss of cedi value, Dr Bawumia purports to have arrested the dollar under the control of the IGP. Comparing this statement to the rapid depreciation of the cedi, one is tempted to doubt the competence and qualification of His Excellency Dr Bawumia. Not quite long ago, he came out with an “innovation” which he said is yet to catch the attention of USA, Britain and Germany. The Digital Addressing System which he used in “leap frogging” the developed countries. A basic project, which qualifies as Level 600 project work, was given to a company at the cost of $2.5million. After the GPS episode, Dr Bawumia is back with another innovation, which will “leap frog” the health system into the developed status. He is leading Ghana on a mission to procure drones to assist Ghana Health Service; in distributing emergency medical products to remote areas at the cost of 12 million dollars.
Like the free SHS, there is no previous concept. The targeted clinics and chip compounds in these rural areas have no nurses, doctors and equipment for the administration of these transported blood and essential medication. “A little extensive consultation, would have saved the super corrupt and incompetent government from wasting the taxpayers money on drones; which is less effective compared to ambulances. Critics suggest the $ 12 million could have been used in buying ambulances, since the greatest challenge to the emergency sector is lack of ambulances. Indeed the whole Ghana has only 55 ambulances and Dr. Bawumia ought to have known this.
It is important for economic advisers such as Dr Bawumia to know how to insulate the National Economy from International shocks and crises; Instead of buying technologies that do not profit the country. Dr Bawumia ought to know, we cannot import every thing we use : from toilet roll to drones and expect our cedi to rise. Mr President CDG-GH`s advice to you, is; abolish all types of imports : from “Broni wawu” (used clothes) to rice and frozen chicken. There should be education on “eat what you grow and grow what you eat”. Plan our educational curriculum to include innovations that will provoke a paradigm shift in the minds set of the people. Our technical needs like drones should be referred to our Technical Universities for solution
Mr President, CDG-GH as a result of its research, confirms that times are hard. Seven Banks have collapsed, and many others are on the way. Several thousands have lost their jobs. 500,000 coming out of Universities, technical schools and SHS yearly have no jobs. Private companies are folding up leading to loss of jobs. Corrupt Ministers looting the taxpayers money remain comfortably at post because of your protection. Your regular flights round the world should end, since it cost the tax payer several millions of GHcs.
By: Dr E.K.Hayfod
Chief Convener CDG-GH
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