Stop boasting about your “cosmetic” macro-economic data – Ato Forson to Bawumia

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Minority Spokesperson on Finance, Cassiel Ato Forson has admonished Vice President, Dr. Mahamudu Bawumia to stop being proud of his macro-economic data that does not reflect the economic wellbeing of Ghanaians.

According to Ato Forson, the supposed macro-economic gains being touted by Bawumia is nothing but a deception that is gradually landing the nation into a high debt distress country because of their failure to service the interest on public debt.

The legislator said as of March 2020, the country’s public debt stood at GHC235 billion but the Vice President has failed to acknowledge it because of his inability to humble himself and incompetence in fixing the mess created.

“It is time to caution Dr. Bawumia not to be proud of cosmetic macro-economic data that fails to translate into economic well-being. Today, Ghana’s public debt has increased from GHS 120.3 billion as at 31st December 2016 to GHS 235 Billion as at 31st March 2020,” he said.

“Your government is struggling to service interest on public debt; as a result lenders have started charging penalties on delayed interest payments. Sadly, our debt levels are so high that we risk becoming a high debt distress country yet you have failed to show humility and competence in fixing your mess,” he continued.

Ato Forson’s response is in reaction to comments made by Dr. Bawumia that sought to compare the crisis management of both parties, where he (Bawumia) indicated that the Akufo-Addo-led government has handled the COVID-19 pandemic better than what former President Mahama did with the dumsor crisis.

In a Facebook post, the Ajumako-Enyan-Essiam MP described as inhumane the comparisons made by Bawumia, questioning why the Vice President would equate a pandemic killing humans to the electricity crisis.

“It is inhumane to compare a pandemic killing human beings to an electricity generation problem that was resolved by the same government,” he said.

According to him, Ghanaians suffered dumsor during Mahama’s time because of the NPP’s failure to invest in power.

He disclosed that “We suffered dumsor in Ghana between 2005 to 2008 when you were a Deputy Governor of the Bank of Ghana and a member of the Economic management team. Can you remind Ghanaians about any stimulus package you provided to mitigate the plight of Ghanaians?”

“Comparing a pandemic to an energy crisis that occurred because the NPP Government failed to invest in power generation over an 8year period only reflects the confusion that has characterized the Vice President’s recent pronouncements,” he added.

Speaking on the data Dr. Bawumia told Mahama to check before making any pronouncements on the true state of the economy, Ato Forson listed some 17 points that allegedly exposes the lies of the ruling government based on promises given to Ghanaians in their 2016 manifesto.

Below are the 17 points Ato Forson made

1) When is Dr. Bawumia going to make available the $18 billion Chinese loan he promised us?

2) When is he going to draw down on the $2 billion sinohydro loan?

3) What happened to “No village in Ghana will have a challenge with toilet and water provision within 2 years of an NPP Government?”

4) How about your promise that “Every Ghanaian will have a bank account by end of 2018.

5) Cedi arrested and the keys given to the IGP? yet you have failed to check the free fall of the cedi.

6) The promise of providing the necessary incentives for private sector participation in health service delivery remains a mirage. What happened to it?

8) Implementing policies that will reduce the cost of doing business has been a hoax.

9) The pledge to provide a reliable and cost-effective mix of energy supply for businesses has probably been long forgotten.

10) Pursuing aggressive industrialization and value addition to agricultural produce has not seen the light of day.

11) The much-touted allocation of US$1 million annually per constituency has become a bitter fallacy.

12) The promise to develop interconnected roads, railways, ports and harbor (RRHPs) system remains a pipe dream.

13) The Water For All Programme has become another deception.

14) Dr. Bawumia’s promise to construct 570 dams in 2017 adds to his tall list of empty rhetoric.

15) Reducing the corporate tax rate from 25% to 20% has still not materialized.

16) The pledge to provide incentives for the hospitality and creative arts industry that will enable them create jobs has been another fiasco.

17) The promise to build hospitals in districts that lack them was totally forgotten until COVID-19 exposed the Akufo-Addo/Bawumia administration.


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