Dr. Mahamudu Bawumia has responded to accusations about why he does not speak to issues of the economy in the manner he used to before the NPP assumed office in 2017.
The NPP flagbearer stated during his delivery on his vision for Ghana on Wednesday that he informed President Akufo-Addo about his intentions for prioritising digitalization, which he believes would be the foundation of any meaningful economic transformation.
Describing his obsession with digitization as a long-held position, he said that he received permission from President Akufo-Addo to focus on the digitalization efforts of his administration, while the Finance Minister oversees the fiscal policy of the budget and the Governor of the Central Bank also focuses on monetary and exchange rate policy.
“I had long held the view that many of these problems facing the economy could be resolved through digitalization. In fact in my 2010 book on Monetary Policy and Financial Sector Reform in Africa, I proposed digitalization amongst others as the way forward for African countries”, Dr. Bawumia asserted.
He explained further that “when we assumed office in 2017, as Vice President, I made the decision, with the blessings and support of the President, to focus on the critical but underdeveloped systems that would expand the economy, improve systems, and create jobs through digitalization. Therefore, as the Minister for Finance oversees the budget (fiscal policy) and the Governor of the central bank also focused on monetary and exchange rate policy, I focused on the complementary data and systems improvement that would ensure the ease of doing business and change the fundamentals of the economy, making it more dynamic and responsive to modern trends, and the management of it more scientific and efficient.”
Dr. Bawumia also revealed that, despite being the head of the Economic Management Team (EMT), the EMT, as a sub-committee of the cabinet, does not have “any decision making powers”.
He, however, touted the quality of advice the EMT has been providing to the cabinet over the years.
The Vice President’s submission backs up arguments by some members of the ruling administration that he (Dr. Bawumia) has not been directly involved in the economic affairs of the country and cannot be principally held accountable for it.
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