Professor Hanke: US Economics Professor Says Bawumia Is The One Creating Ghana’s Economic Problems

• Dr Mahamudu Bawumia has come under attack from Prof Steve Hanke, the US-based economist
• The John Hopkins University professor said although Bawumia says he wants to help solve the economic problems, he is the one creating the problems for Ghana
• Prof Hanke's comment on Twitter seems to back a claim by spare parts dealers in Ghana that Dr Bawumia, who was praised as an astute economist in the past, has failed the country

US-based professor of applied economics Steve Hanke has said Ghana's Vice President, Dr Mahamudu Bawumia, is the one creating Ghana's economic problems.

Although the John Hopkins University professor did not detail how Dr Bawumia was doing this, he tweeted that the vice president's desire to help solve problems won't happen.

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"#Ghana's VP Bawumia says he's 'into politics to help people solve problems.' SPOILER ALERT: Bawumia is the one CREATING the problems. Today, I measure GHA's inflation at a stunning 81%/yr, nearly 2.5 TIMES the official rate," he tweeted on Tuesday, September 20, 2022.

Prof Hanke was reacting to a call by Ghanaian spare parts dealers for better economists to solve Ghana's economic challenges since Dr Bawumia, touted as an economics wizard, has failed the country.

Spokesperson for the Spare Parts Dealers Association of Ghana, Takyi Addo, said the continuous fall of the cedi against the dollar is enough proof that the economic management team of the Akufo-Addo administration, which is led by Dr Bawumia, is a failure.

"The dollar is running like Usain Bolt...the government must eat humble pie and consult more professionals. [The government] must go to the past administrations, there are more people who can help," Mr Addo said.

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Ghana's Inflation Rate Surges To Highest Rate Of 33.9% In More Than 20 Years

Meanwhile, YEN.com.gh reported in a previous story that Ghana's inflation rate accelerated for the 15th straight month to 33.9%. That makes it the highest inflation.

According to data from the Ghana Statistical Service (GSS), the main drivers of the inflation rate were food and transportation.

Also, the rate of inflation on a monthly basis between July 2022 and August 2022 shot up by 1.9%. The figures from the GSS also revealed that food inflation rose by 32.3%, with non-food inflation hovering around 31.3%.

Source: YEN.com.gh