We need better policy, not Bawumia’s Policy of Paralysis

I thought the arrival of Nana Addo and Dr. Bawumia’s government marked the dawn of a new political and economic era. However, Nana Addo’s promise of an economic bonanza turned out to be false. Ghanaians have been bamboozled with empty promises. Same goes to Dr. Bawumia, who used a series of economic lectures to masterfully manipulate many voters into thinking that he was the economic messiah, but he too turned out to be a false economic prophet. Enough with the NPP government. We need a better Ghana. Not Dr. Bawumia’s policy of paralysis.

It is evident that the economic policies of Dr. Bawumia have yielded policy paralysis. On one hand, Dr Bawumia opposed taxation on MOMO but later he and his economic team management went ahead to tax transactions on MOMO which turned out to be a failed policy. We also see policy paralysis played out in the fight against illegal mining or galamsey. Now we can look back and say that President Nana Addo’s pledge to put his presidency on the line and fight against galamsey was just a political gimmick because later when Dr. Frimpong Boateng revealed scandals and corruption regarding some members of the NPP administration involved in illegal mining activities he was rather met with nasty attacks and accusations.

We also see policy paralysis in the case of dealing with the International Monetary Fund (IMF). From day one in office Dr Bawumia and his NPP Administration were against IMF loans and attacked the NDC, the previous government for mismanaging IMF loans. In fact, the political doctrine of the NPP was that going to the IMF for loans was a taboo and vowed not to go to the IMF. At some point in time, you had Ken Ofori Atta quoting biblical scriptures to instill faith by saying that there was no need to take on additional IMF loans. When all was said and done, the finance minister went back to the IMF to beg for a 3-billion-dollar bailout. Clearly, policy paralysis is ubiquitous in every aspect of the Dr. Bawumia’s NPP administration.

Ghanaians are suffering from depreciation of the cedi, rising inflation, low GDP growth, and unbearable fuel prices. Amidst all these economic crises, Dr. Bawumia and his NPP administration are oblivious to these economic hardships and all they care about is how to win the next election at all costs. Policy paralysis has played out in accountability of the COVID-19 Funds which Nana Addo denied any wrongdoings by his administration. During his State of the Union Address, he snubbed the findings of the auditor general’s report by stating that there have never been any wrongdoings with the Covid-19 funds.

Back in 2016 during the campaign, Nana Addo, with his scintillating accent told Ghanaians and I quote “I am promising you, within 18 months, the new Government of the NPP under my leadership, the face of our country Ghana is going to change”. Truly, Ghana has really changed epitomized by big spending, borrowing and poor austerity measures. Indeed we need a better policy and not Dr. Bawumia's policy of paralysis.

By Ebenezer Ato Jackson
Cornell University-Johnson School of Management

MBA Class of 2015