Bawumia trouble the NDC – Kweku Baako

General News of Saturday, April 6, 2019

Source: dailyguidenetwork.com

2019-04-06

This vice president, Dr. Mahamudu Bawumia, is a thorn in the flesh of the opposition. The National Democratic Congress (NDC) is a suggestion that continues to gain ground among many Ghanaians.

Abdul-Malik Kwaku Baako, editor-in-chief of the newspaper "Crusading Guide", is the last to make the suggestion and did it with force during the television show Good Morning Ghana yesterday.

Town hall meeting

The evaluation of the senior journalist is in line with the recent commitment of the Economic Management Team (EMT) to City Hall, chaired by the Vice President, and the so-called counter-commitment of the NDC. , held yesterday.

Like every time the Vice President makes an appearance on the political scene, as he recently did at the College of Physicians and Surgeons, the result is chaotic, the opposition party organizing unprepared programs to somehow undo what many see as the superior arguments advanced by the Vice President.

Kwaku Baako Jnr said the Vice President's "brilliant performance" usually made the opposition party angry.

In their response to such a performance, they look for ways to dismiss the arguments of their protagonist, who, he says, are presented with such simplicity for the understanding of non-economists.

Bawumia Plaudits

The editor praised the communications skills of the vice president who, he said, "simplified the economy to everyone's understanding".

This was a direct reference to the vice-president's performance when he presented the country's economic fortunes to Ghanaians up to the present, in the context of the recent hiccups in the national currency.

"It seems that Dr. Bawumia is posing a problem to his political opponents. I have been around Ghanaian politics for a very long time and I can tell you that Dr. Bawumia is one of the best communicators we have ever had. It's articulate, it's consistent and it's focused, "said Baako.

In contrast to others, by presenting rather difficult economic theories, Bawumia avoids complex areas, even emphasizing the understanding of those who have no knowledge of macroeconomics in the context of graphs.

Kwaku Baako continued, "It makes economics very simple. He is able to reduce very complicated problems. I see why it is a problem and a challenge for some people. I think the town council meeting was a useful exercise.

NDC commitment

A commitment by the NDC, intended to qualify the bluff of Dr. Bawumia, unfortunately did not record the impact that he had at his alleged public meeting.

The influence of those who came and the level of excitement of the meeting organized by the EMT speaks volumes about its immense success.

Mr. Bawumia took the opportunity to refute the NDC's claim that the fall of the Cedi, the national currency, is due to weak economic fundamentals, calling the reasoning "distorted".

It took a simple argument impregnated with occasional humor to badert his point of view and, by the time he landed, the vice president had consolidated his position as an experienced man in the field of l & # 39; economy that he had chosen.

The NDC has sought to use the vice-president's position before his ouster: "If the fundamentals are weak, the exchange rate will expose you!"

It took the caliber of a man like Dr. Bawumia to put the situation in its proper context using a superior argument.

"Factors such as the inflation rate, the trade balance, the budget balance, the money supply are what we call the fundamentals. But speculations and expectations on these fundamentals; external shocks such as rising oil prices can also have powerful short-term effects on the exchange rate.

"When we find pressure on the exchange rate, we must first determine where these pressures come from or whether they are transitory or permanent. And as all astute central bankers know, even with strong economic fundamentals, speculation, expectations, and investor sentiment can put pressure on the exchange rate.

"Ladies and gentlemen, you will remember that I said in 2014 that" if the fundamentals are weak, the exchange rate will expose you ". It was true then and it's true now. It's 100% correct.

"But it makes sense to go from there to the conclusion that if there is a depreciation of your currency, the fundamentals must be weak. Do you understand the logic? If the fundamentals are weak, the exchange rate will expose you, but if the exchange rate fluctuates, you will not be able to deduce that the fundamentals are weak. This defies the logic, "said Dr. Bawumia, adding" There could be external factors responsible for the depreciation of the exchange rate. "

An opposition-friendly NDC academic badociated with the former government's EMT joined his party in an unsuccessful attempt to spoil Dr. Bawumia's excellent performance in the open session.

Nii Moi Thompson did not address the points raised by the Vice President, but said: The Bawumia charts are basaa to know, random or even confusing.

Dr. Thompson did not provide a strong case for convincingly refuting Dr. Bawumia's arguments.

He continues to be part of the CND's efforts to reprimand a man they dread so much that they would do everything to criticize not only his presentations, but also his person.