Are These Shallow-minded NPP Economists Aspiring To Rule Ghana?

A Deputy Finance Minister has hit back at claims by the New Patriotic Party (NPP) that the Mills-led NDC administration is incompetent in the management of the economy and has cautioned Ghanaians to be wary of the �shallow-minded NPP economists� aspiring to govern the country. Fifi Kwetey indicted the NPP for intentionally causing fear and panic among investors by consistently accusing the government of failing to manage the fall of the cedi and the economy. The cedi has since January this year, suffered a free fall against all the major trading currencies. It started the year around GHS 1.1p but is currently pegged at GHS1.90p. The NPP therefore sees this as evidence in their assertion that government�s inability to manage the depreciation of the cedi is because it is bereft of ideas. On Wednesday, the NPP�s Economic Committee faulted government for mismanaging the economy with a devalued cedi as the result. At a press conference held in Accra, Chairman of the committee, Mr. Yaw Osafo Maafo stated that �the government appears to be totally lost as to how to resolve this problem, while prices of goods and services keep rising by the day! This makes untenable the reported single digit inflation as there seems to be a disjoint between cost of goods and the inflation rate.� According to him, the spiraling rise in the cost of living, coupled with the daily rise in the prices of goods and services on the market, is as a �result of the NDC government's inability to keep the currency stable.� But the Deputy Finance Minister, in a sharp riposte, described the press conference �as a piece of Bawumia economics�. The deputy minister indicated that �Bawumia economics� stood for �very shallow economics�.