Sunday, 23 June

Stephen Amoah's comment on Bawumia resolving economic challenge as President disappointing - BOT

General News
Stephen Amoah, Nyieso MP and Deputy Minster for Finance

Chartered economist Mr. Bernard Oduro Takyi (BOT) has expressed disappointment over recent comments made by Deputy Minister of Finance, Dr. Stephen Amoah suggesting that Ghana's economic challenges could only be resolved if Dr. Mahamudu Bawumia is elected in the December 7, 2024 general elections.

Mr. Takyi criticized this perspective, asserting that the future of Ghana looks bleak with individuals like Dr. Amoah at the helm of financial affairs.

 He questioned the Minister's implication that Ghanaians must wait for Dr. Bawumia's election to see economic improvements.

"I am saddened by the comments of the Finance Minister.

 Are Ghanaians supposed to wait until Dr. Bawumia is elected before the economy can be fixed?" Mr. Takyi remarked during an interview on Accra 100.5 FM's evening news on Wednesday, May 29, 2024.

 He expressed surprise and disappointment that the Deputy Minister would speak in such a manner after nearly eight years in government.

Mr. Takyi highlighted that the Deputy Minister's remarks underscore a bleak future for Ghana if the current administration remains in power.

In an interview earlier, Dr. Stephen Amoah assured the public that Vice-President Dr. Mahamudu Bawumia, if elected in the upcoming December elections, plans to implement a long-term strategy to address the cedi depreciation issue. 

"Inshallah, Alhaji Dr. Mahamudu Bawumia, next year if he comes, we're going to design a long-term framework to deal with the cedi," Dr. Amoah stated.

Dr. Amoah emphasized that the cedi depreciation problem requires a national focus beyond the capacity of any single administration. 

"Cedi depreciation is a ritual problem, I agree with you.

 It's not because of one particular government…It's an issue that needs nationalistic attention," he added.

He elaborated on the impact of importation on the cedi’s value, noting that the high demand for the dollar driven by imports exacerbates the depreciation issue. 

"So far as we keep on being an importer-driven economy, we'll be having problems with the cedi because we import almost everything," he explained.

Source: Mensah