Mahamudu Bawumia’s economic credibility has been dealt a severe blow as Alan Kyerematen, leader of the Afrafranto Alliance, revealed startling truths about Ghana’s ongoing economic crisis. Kyerematen’s bold statements have exposed the underlying factors contributing to the country’s financial woes, directly challenging Bawumia’s narrative and potentially reshaping the political terrain ahead of the upcoming elections.
According to a report by GhanaWeb, the controversy began when Kyerematen strongly disagreed with recent comments made by Kyei-Mensah-Bonsu, who had attempted to distance Bawumia from responsibility for Ghana’s economic challenges. Kyerematen argued that as the head of the Economic Management Team for the past seven years, Bawumia cannot be absolved of blame for the country’s current financial predicament.
“Dr. Bawumia has been the Chairman of the Economic Management Team for the past seven years,” Kyerematen stated firmly. “How can anyone suggest he’s not connected to our economic situation?”
The Afrafranto Alliance leader went on to emphasize that leadership requires taking responsibility for both successes and failures. He pointed out the inconsistency in praising Bawumia for any economic achievements while shielding him from criticism over the country’s financial struggles.
“If we praise him for any economic successes, we must also accept his role in the difficulties,” Kyerematen explained, highlighting the importance of accountability in leadership positions.
Kyerematen’s revelations have shed light on the long-standing issues plaguing Ghana’s economy, which he argues predate the COVID-19 pandemic and the Russia-Ukraine conflict. He contends that years of poor fiscal management, ineffective revenue mobilization, and questionable policy decisions have laid the groundwork for the current crisis.
The Afrafranto Alliance leader recalled Bawumia’s vocal criticism of the previous government’s economic management when he was in opposition. “Dr. Bawumia was very vocal about economic issues before 2016,” Kyerematen noted. “He made big promises about how he would handle things differently.”
This reminder of Bawumia’s past statements has put the Vice President’s economic performance under intense scrutiny. Kyerematen argued that it is only fair for voters to compare Bawumia’s promises with the actual economic results over the past seven years.
The revelations have sparked a heated debate about the true causes of Ghana’s economic crisis. While the government has consistently blamed external factors such as the COVID-19 pandemic and global economic disruptions, Kyerematen’s statements suggest that the roots of the problem run much deeper.
Kyerematen pointed out that Ghana’s fiscal health was already deteriorating before these global events. He highlighted the country’s chronic failure to mobilize sufficient revenue, with Ghana’s revenue-to-GDP ratio standing at only 15% in 2019, significantly below the Sub-Saharan African average of 20.5%.
The Afrafranto Alliance leader also criticized the government’s response to the pandemic, particularly the decision to print GHS77 billion under Bawumia’s supervision. This move, according to Kyerematen, directly contributed to the surge in inflation, which peaked at 54.1% in 2022.
“You can’t boast about your skills to fix the economy, then avoid blame when problems come up,” Kyerematen said, challenging Bawumia’s past claims of economic expertise.
The impact of these economic policies on ordinary Ghanaians has been severe. Kyerematen highlighted the soaring cost of living, with food prices increasing by 69% in 2022 alone, making basic necessities unaffordable for many citizens.
Kyerematen’s revelations have not only exposed the underlying causes of Ghana’s economic crisis but have also called into question the credibility of the current economic leadership. His statements have sparked a national conversation about accountability and the need for honest, fact-based discussions about the country’s financial future.
The Afrafranto Alliance leader emphasized the importance of focusing on substantive economic policies rather than engaging in personality-driven politics. He called for detailed plans from all candidates on how they would address Ghana’s financial challenges.
“We need real solutions, not just slogans or blame games,” Kyerematen explained, underscoring the seriousness of Ghana’s economic situation and the need for practical ideas to address it.
Kyerematen’s own campaign promises to offer voters concrete plans for job creation, reducing inflation, and boosting exports. This approach stands in stark contrast to what he perceives as attempts by some political figures to avoid responsibility or distort facts.
The revelations have also raised questions about unity within the ruling party. Kyerematen addressed these concerns, stating that while healthy debate about policies and performance is normal in a democracy, such discussions should remain respectful and focused on issues rather than personal attacks.
“We can disagree on ideas without being enemies,” Kyerematen noted, emphasizing the potential for different views within a party to lead to better solutions if handled properly.
As the election season intensifies, Kyerematen’s call for honesty and accountability in political discourse has resonated with many voters. His exposure of the underlying causes of Ghana’s economic crisis has challenged the narrative put forward by Bawumia and the current administration, potentially altering the political landscape.
“Let’s have a fair, open debate about our economy and how to improve it,” Kyerematen concluded. “That’s what Ghanaians deserve from their leaders.”
The impact of Kyerematen’s revelations on Bawumia’s political future remains to be seen. However, it is clear that these startling truths about Ghana’s economic crisis have sparked a crucial national conversation about leadership, accountability, and the path forward for the country’s economy.
