Parliamentarian for Bolgatanga Central, Hon. Isaac Adongo, has meticulously dissected thirteen strategic moves and oversights of Vice President Dr. Mahamudu Bawumia during his tenure as the head of the Economic Management Team.
These actions, as noted by Adongo, have collectively contributed to the economic downturn that Ghana finds itself grappling with today.
In a candid social media exposition where the MP firmly implicated the Vice President in the nation’s economic challenges, Adongo scrutinized the government’s debt restructuring initiatives, the banking sector collapse, and the contentious decision to print vast sums of money under the Akufo-Addo administration.
The resulting inflation spike, according to Adongo, has left a significant scar on the economy. Adongo’s critical assessment underscored Bawumia’s pivotal role in the decision-making process that shaped key economic policies and outcomes affecting countless lives and livelihoods during the past seven years.
The collapse of numerous financial institutions, failure to manage the national debt effectively, and the repercussions of fiscal mismanagement were among the grave concerns highlighted by the MP.
In response to Bawumia’s unveiling of a 33-point policy agenda and claims of superior visionary leadership compared to John Mahama, Adongo challenged the Vice President’s credibility, pointing out that the current state of the economy reflects his administration’s performance rather than mere future promises.
Adongo emphasized that Bawumia, as the chief architect of economic strategies, bears a significant responsibility for the economy’s downward spiral.
Among the pivotal economic issues raised by Adongo was Ghana’s ballooning debt under Bawumia’s watch, with the national debt soaring from GHS 122 billion in December 2016 to GHS 658.6 billion by February 2024.
Adongo admonished Bawumia for presiding over a government that failed to qualify for an IMF program despite earlier criticism of such interventions.
Furthermore, Adongo highlighted the adverse impact of high taxes on local businesses, the imprudent printing and borrowing practices that exacerbated the economic challenges, and the drastic escalation of inflation rates.
The collapse of banks and financial institutions, mismanagement of domestic debt programs, and controversial deals such as Agyapa and PDS were also singled out as detrimental policies under Bawumia’s leadership.
The MP’s scathing critique extended to the failed infrastructure projects, including the Pwalugu Multipurpose Dam debacle, and the questionable allocation of funds under the guise of community development initiatives in regions like Northern Ghana.
With a sharp focus on accountability and transparency, Adongo’s detailed analysis painted a grim picture of Dr. Bawumia’s economic legacy, raising pertinent questions about the efficacy and integrity of the Vice President’s policy decisions and their lasting impact on Ghana’s financial landscape.