(Download) Full Text: Dr. Bawumia’s lecture on “Restoring the value of the Cedi” at CUC
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At the Motsio Campus of Central University College in Accra, Dr. Bawumia described Ghana’s economic situation as an ailing one.
Delivering his speech yesterday, he said;
“Government should as a matter of policy and urgency, significantly cut down on borrowing for now. The government should anchor fiscal policy on a debt reduction target and immediately announce it. Fiscal policy currently has no effective anchor. The announced intention to borrow an additional $1billion from the capital market this year should be shelved because it would only be achieved at very high cost which would worsen the fiscal and current account situation and make Ghana’s debt unsustainable. With low net international reserves, a double digit fiscal deficit, double digit current account deficit, and double digit inflation, Ghana would have had to pay a double digit interest rate for any sovereign bond issue this year.”
The full text of the lecture in pdf below;
214478506-Restoring-the-Value-of-the-Cedi
Author: Nana Kwesi Coomson (www.233times.net)
ABOUT: Nana Kwesi Coomson
[email protected] An Entrepreneur, Corporate Social Responsibility, Corporate Communications Executive and Philanthropist. Editor-in-Chief of www.233times.com. A Senior Journalist with Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. His first degree is in Bachelor of Arts - Political Science (major) and History (minor) from the University of Ghana. He holds MSc in Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) from the Robert Gordon University in the United Kingdom. He is a 2018 Mandela Washington Fellow who studied at Clark Atlanta University in USA on the Business and Entrepreneurship track.
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