The Dean of the University of Cape Coast Business School, Prof. John Gatsi has replied Vice President Dr. Mahamudu Bawumia telling him “Policy saturation, failure fatigue, frustration” can make him see “demons and principalities” in his effort to provide leadership to the nation’s Economic Management Team.
Speaking to Mansah Musah in London monitored by Awake News when Prof. Gatsi was asked if principalities and demons as stated by the Vice President Dr. Bawumia are in finance and economics manuals, later replied that an economy is managed based on policies, programs and projects within the framework of sound institutions.
According to him, “discovering principalities and demons instead of new ideas, new projects, new policies and dialogue with the youth, professionals and ordinary Ghanaians means there is heavyweight of failure fatigue, policy saturation, and general frustration.”
Prof. Gatsi also said he as a person recognizes that managing an economy can be tasking and difficult especially in the Covid era and at a time when Ghanaians are refreshing their memories about what the Vice President said about his ability and the promises made.
The host of the radio program, Mansah Musah asked Prof. John Gatsi why the Finance Minister, Ken Ofori-Atta didn’t want to disclose the engagement with the IMF, this is what the Economist had to say:
The Finance Minister’s claims and presentation were “meant to paint a picture that going to the IMF for support meant mismanagement and inability to manage well.” which he said is totally not the case.
For Prof. Gasti, the Finance Minister is having his way to push this misconception and making Ghanaians belive him because the NDC “failed to explain to Ghanaians that going for the HIPC initiative was a program and support from the IMF in recent political-economic discourse in the country.”
He further told Mansah Musah that the recent one billion dollars zero-interest loan with five years moratorium is another example of support from the IMF under the NPP government adding “It is unfortunate that under the 3-year extended credit facility from the IMF US$918million was given but under the facility for Covid-19 US$1billion was given yet we could boldly say we didn’t go to the IMF.”
The Finance Minister claims in paragraphs 24 of the Mid-Year Review Budget Statement presented to Parliament that “in the face of Covid-19, Ghana did not go to the IMF for a bailout program”, this Prof. Gatsi in his earlier article dismissed whiles explaining that “A bailout is just a financial support or assistance to reduce difficulty or to avoid the collapse of an economy.” and “In 2020 Ghana actually went to the IMF with approval from parliament to receive one billion United States dollars equivalent to six billion Ghana cedis to reduce the sharp pain and avoid the imminent collapse of the economy.”
By: Efo Korsi Senyo / awakenewsroom.com