Bawumiah: The Economy Is Really Scary

The NPP vice-presidential candidate Dr. Mahamudu Bawumia allayed some speculations during an interaction with students of the Navrongo Nurses Training College in Navrongo.

According to him, he found it very funny when one of the Ministers of Finance said that he [Bawumia] is scaring away foreign investors when they have scared away domestic investors, teachers, nurses, businessmen, farmers and fishermen etc.


<sup>"The Economy, the NDC under John Mahama, have created is a real scary economy. It is scary if you are a student and worried about getting a job. It is scary for businessmen in this very high tax economy. It is very scary for people who are borrowing and who are incurring very high interest rates on their loans. It is very scary for our nurses, it is very scary for our doctors, it is very scary for our teacher trainees and our teachers. It is in fact what one can describe as a 'Kaakaamotobi' economy. They have scared the living daylight out of all of us.


I found it very funny when one of the Ministers of Finance said that Dr. Bawumia is scaring away foreign investors. They have scared away domestic investors, teachers, nurses, businessmen, farmers and fishermen etc. It doesn’t take me to scare away foreign investors. It is your mismanagement that is scaring away foreign investors.

It is your mismanagement of this economy that resulted in Ghana seeking an IMF bailout. Ghana went for an IMF bailout because it became largely broke and because it had lost policy credibility. That would scare away any foreign investor, if you admit you don’t have credibility and have to borrow credibility from the IMF."</sup>