Steven Hanke, a Professor of Applied Economics at the Johns Hopkins University, has stated that the Vice President of Ghana, Dr. Mahamudu Bawumia, is playing blame games with the source of Ghana’s economic problems.
Prof. Hanke made this known in a Tweet sighted by www.africanentertainment.com.
According to him in his tweet on Monday, August 22, 2022, “When it comes to the source of Ghana’s economic problems, VP Bawumia plays the BLAME GAME. You know, it wasn’t me, it was the guy behind the tree.”
He added that “Today, I measure GHA’s inflation at 80%/yr. Without a currency board, GHA is going down the tubes.”
When it comes to the source of Ghana’s economic problems, VP Bawumia plays the BLAME GAME. You know, it wasn’t me, it was the guy behind the tree. Today, I measure GHA's inflation at 80%/yr. Without a currency board, GHA is going down the tubes.https://t.co/GCuAxdJvZF
— Steve Hanke (@steve_hanke) August 22, 2022
As www.africanentertainment.com previously reported, Vice President Mahamudu Bawumia and members of Ghana’s Economic Management Team which he heads have in the past sought to use the Russia-Ukraine war to cover up their mismanagement of the Ghanaian economy which has resulted in hardships for many Ghanaians.
The ruling Government’s communicators continue to blame the coronavirus pandemic and the Russia-Ukraine war for the economic woes facing Ghana which is making life unbearable for ordinary citizens.
The Russia-Ukraine started just in February 2022.
Interestingly, the economic mess in the country which Ghanaians have been complaining about for months, leading to the #FixTheCountry movement, is now being attributed to the war.
Dr. Bawumia recently after several months of silence on the economic meltdown in Ghana, came out to tell Ghanaians that the Russia-Ukraine war and coronavirus were badly affecting the economy of Ghana.
The Ghanaian Vice President while speaking at a public lecture at Kasoa in the Central Region of Ghana explained “the increase in commodity prices has been exacerbated by the Russia-Ukraine conflict.”
He noted that “Russia and Ukraine together account for 30% of global wheat exports; the longer the conflict ensues, the greater will be the disruption to global food supplies. The conflict is also likely to slow down global growth.”
‘Russian Embassy exposes Bawumia’s deceit’
Meanwhile, the Russian Embassy in a Tweet few months ago insisted that Russia’s invasion of Ukraine was not to blame for the economic woes in Ghana.
Countering Dr. Bawumia’s claims, the Embassy explained that “The annual growth rate of wheat prices in 2021 amounted up to 25%. By February 2022, they exceeded the average prices for 2017-2021 by 31-62%. The cost of com for the years of 2020 – 2021 increased by 162%, for rapeseed – by 175%.”
The Embassy went on to recount that “in 2020 and 2021 the WFP has repeatedly warned that as the world was dealing with coronavirus pandemic, it was also “on the brink of a hunger pandemic” that could lead to “multiple famines of biblical proportions.”
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