Assessment of the performances of NPP, NDC | Point of View

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okay welcome to the point of view it's live on City TV's your favorite kinds arpeggio on this show we bring the right guests to ask them relevant questions on issues that matter to you and we always go home with some useful insights it's an interactive program if you're watching on social media you can get in touch on the stream that below and if you are watching on television as well we'll be very happy to hear from you on the whatsapp number we put on the screen so we can a few days ago the vice president dr. Mahmoud Bao Mia addressed a town hall meeting in the center is no capital of Kumasi where he give a very interesting analysis of the performance of the Newport Rock Tea Party government with a lot a few days to pass aware of subjects all the stuff he said to straight proof with two very similar but different guests so it's going to be an exciting conversation involving my guests when we come back stay with us welcome back so tonight we'll be trying to understand where we are as a country not just from the perspective of the New Patriotic Party government but it's also a comparison of records as you know the opposition party the NDC say that this government has failed and that they should be given another chance in the election that's less than a year a week we'll be talking to two key members of the two parties about the performance of the two political partisan government before I introduce my guest let me take you to Kumasi I'm going to show you highlights of what dr. mom Obama has said through the room full of Chiefs mm DCs and other ordinary Ganesa spoke about free SHS talk about the macro economy and even the financial sector here's a flavor of what dr. Bonilla said last week allow access to the internet across public tertiary institutions and senior high schools government has awarded the contract for the provision of free Wi-Fi to all senior high schools and tertiary institutions there is so much knowledge there's so much knowledge on the Internet and we have to allow our senior high schools to access that knowledge and we promised free Wi-Fi and we are going to deliver free Wi-Fi to all senior so that was about me not talking about three SS he would also talk a bit about the banking sector and other issues around the economy so let me take you to more of the things he said during that presentation in Kumasi reduce electricity tariffs we have delivered and your procurement of new power projects executed firmly through PPP and IPP arrangements we have delivered ensure there sufficient reserve margin to ensure stability of our energy system we have delivered the most recent validation exercise that we undertook at the end of January 2019 shows that we have either delivered or we are delivering on 78 percent of our proof so welcome back to the show so those are highlights on talks about me I says they have delivered he give himself 78 percent we're going to quickly run through the show let me do this my guest - very interesting about different before so let's out the similarities and the appearance took them to a seminary hoping to become both of them decided you know that calling to marry and have kids so the boat went to Pope John seminar yeah but from the eastern region the book came from an interesting professional backgrounds one is a doctor who decided to enter policies ERISA entrepreneur journalist lawyer also ten politician other interesting things so one of them grew up reading just Capitol reading Che Guevara he leans left so he sat to my left and the other one read Steve Jobs and Bill Gates you wanted to be a businessman so the existing to my right and politically as well or Moneyball mildly leans left and open Kamala means right we're going to try and see how to bring them together on the show gentlemen welcome to the show thank you very much I'm sure you produced what's up platforms are buzzing so is welcome to the show and it's good to have you it's good to know that you went to a good boy school so you behaved very well and so maybe let me start with quiet government feels we are because I think that's very important so I just picked a couple of videos of dr. Bonilla spoke of free SHS spoke on the banking sector but he really started by talking the macro economy and then he sort of ended by talking about the percentage delivery where he listed about 300 promises and the delivery now I'm sure you were part of the architects of this program so give us a quick insight into why you chose to make it both up and economic conversation and also a manifesto conversation why he chose that town hall format and all the thinking behind some of the things he highlighted so then Adam thanks for the opportunity and good evening to her money and to your viewers i backtrack a little the Mandate of the Minister of Information essentially is to create platforms that allow government to engage its various publics one of the innovations that we've brought is the town hall meetings that allow key government officials to be out there to speak to major issues and engage the country in a conversation because we believe that politics must be more about issues verifiable data things we can agree on policy conversations now what we have done with this first town hall meeting the first in a number of town hall meetings will be having this year is to give the administration an opportunity to do something novel which is to go back to its social contract or the foundation of its social contract with the people of Ghana and remind ourselves of what we promised at the time we were looking for power and to account to the people for how much of that we have delivered or we are in the process of delivering and the legend to that chat essentially I always say we have delivered what we mean is that we've completed it when we say we are delivering we are to complete it and also in all humility to be able to explain to the people of Ghana what we have not been able to touch so far which is what we call pending and if we have a good rationalization of why do so so we believe that between the exercise of providing information and also deepening our democracy it is important to do these town hall meetings to engage various publics on things like as a foundation conversation our 2016 manifesto that is essentially the rationale behind we started we did a bit of an analysis of the areas of focus at City News and we noticed a large chunk of this was to do the macro economy and then there was something on the banking sector and then we saw that he also spent some time talking about three SHSM social programs and then he also discussed digitization and then he ended up by then talking about we have delivered any idea behind those areas of emphasis for example there wasn't much on infrastructure for example was the thinking behind those areas of emphasis so we have already mentioned that our second town-hall meeting which should take place I think maybe somewhere around early April or March will focus squarely on infrastructure good and so what we did was not to include so much infrastructure detail in this one but you know for any part in government in the administration and I'm sure many would recall around 2008 when they came to power one of the first things you need to do is to check the macro foundation of the country not what you call in economic term the macro fiscals yes and ensure that if you inherited things at a time when the macro fiscal situation was abysmal if you restore be you bolster or maintain stability why because it is support that stability that you are now going to build your entire programming in the economic area things like growth which you come with jobs and incomes for people in the public goods and services area in social services but ultimately to ensure that people can get a higher quality of life so like I think the AF DB boss recently says nobody it's micro statistics that is true but it is an important foundation which if you don't get right you can't do anything up there so it was strategic for us to spend some time starting off on the markers that we inherited and what we've done in the last three years and two months to bring the market to a stable point and to bolster this macro and at the same time begin to deliver the elements of growth and quality of life improvements that we promised so there's a method to what you may call the madness and it is deliberate to set a certain foundation show where we have come from where we are and what remains to be completed all right initial comments watching this as a former minister of communication who used to be quite instrumental in your own government's time because I recall you have quite possibly a green book and you used to sometimes come on interviews with a lot of material pointing out what your boss had done observing the NDC MPP dr. Bamiyan coo was running to you're my wife in this out force as you watched that she did the program yeah thanks very much Bernard and how could you and a very good evening to us and it's nice out there I think that for government to want to be accountable and to go around the country to speak to the good people of Ghana it's something that we also did I remember very well the g4p series of program that is a government for the people forum and so it didn't come to me as a surprise however what came to me as a surprise is the fact that I think dr. Burmese presentation was politically pathetic academically anemic and flagrantly dishonest politically pathetic academically anemic flagrantly dishonest what do I mean by the fact that it is politically pathetic but we have a situation where a vice president kept on Shannon 78% and we have delivered 17% we have delivered as we speak the denominator itself is being contested whereas government puts it around 388 the mining Ghana is around 500 at Nova so when you are dealing with fractions and percentages for every student of mathematics you don't have to it will have had three edges to want to know that when denominators are in dispute we will have a very serious issue riding on the back of the percentage that the quotient and I will list a few of the unfulfilled promises they said they were chief double-digit GDP growth annually we have not been able to achieve that they said they will reduce corporate tax from 25 percent to 20 percent they have not been able to achieve that they said savings from the reduction of interest rates paid on the country's debt stock will be made they have not been able to fulfill this from their own budget for the year 2020 this year alone they are going to pay as high as 20 billion velocities which is unprecedented in our history and this is also because of the unbridled borrowing that we have seen under President acusados administration ballooning that's not debt they also said they were going to eliminate corruption there was credible institution internationally globally accepted is a transparency international it is tried knowledge that the worst performance of the President Mohammed administration on the CPI index is better than the best performance of President Aquino so when you talk about elimination of corruption especially in procurement of goods and services etc that want to develop in able to achieve that they also said they will provide tax and related incentives for manufacturers businesses like this such as a group assassin light industries from a suti cars petrochemicals and all that and if we type this also even to what we did and I'm very glad to see anezka missed these days Chan out the chain of outlets that we are seen across the country if you recall somewhere 2014-2015 the President Mohammed administration invested millions of Ghana Cedis into NS chemist into two binco into Dan Adams and so I'm happy to be system of this I am yet to see the kind of investments that we made even in just those three or four from assuit occur industries they equalling that's all surpassing it and I'm also yet and I'm very sure by the end of this program my dear brother could you will look into the cameras and tell us how many of the factories one discreet one factory that we promised in the various districts remember it is one district one factory and remember the modification of retooling repainting insisting that she was not the campaign promise because printer momento is not what we are dealing with you talking about talent of Pinta moment owns know what we are dealing with here we are dealing with touching factories from scratch and in your fourth year how many of them they have completed and talking about factories my brother I'm very very sad what we have done to Ramon HS printing factory today and I believe when time permits you delve into spend some time on it again they also talk about implementing policies that will reduce the cost of doing business I mean look at the way they cannibalize Det almost to the extent that AG I had caused to completely wrote a letter to the Minister of Finance in the year 2018 and indicated that this was going to increase the cost of production and hence the cost was going to be passed on to consumers subsequently it even affected products all the way to simple yogurt not not many people will even be patronizing and if I may even be a was also affected I remember one of the breweries issued a statement talking about that so if you look at this and I can't go on so what you have is yes then how many promises sound this is me this is that 380 or the 500 this what is a Jessica flip of the switch flip out of unfulfilled profit and I can go on and so I'm gonna do let's go I mean it says that it touched a few macro things so let's do macro briefly you did say that the debt accumulation was high you said the promise GG is good they didn't have it you haven't been talking about the exchange rate year could the doctor bomb you spend about 36 percent of his time talk about the macroeconomic and you're saying that for you for a first time in government the macro is key yes what are the what's the basis for the confidence are you you've changed the macro situation give me some of the highlights I will come to that very shortly first of all a taco this claim that the the the administration says it's made 300 you need to eat manifesto promises and I listened to our money carefully says but it Manny says is over 500 I don't think we can work with that you know comments just as a go what does the money said is 500 the money has said that the account over 500 promises that the MPP made in its quest for power that's my understanding of what we've said we have been very clear that we are measuring 388 money first to promises I would have been happy if a miner would have started off by saying that they have counted as an opposition party that seeks to hold us to account and that they have found that it is not true deliberately underneath it he hasn't said that so what is the figure it is over five hundred to give us a figure they haven't done even that job I'm telling you an authority that what we end out and an honest city to do that count yourself is 388 we have taken time to count their manifesto promises in their first and in 2008 its 299 promises and if we have some time I will show you how much of that they delivered or we're delivering by the time that first term was ended so I'm saying that as we are starting this from season it shouldn't be based on you know somebody says somebody says it should be based on hard data that we can defend that's the first matter the flavor uses the word flavor of unfulfilled promises for me it's not surprising we have ourselves mention that there about 22 percent of our promises that way I had to deliver so if you spend your time cataloging those ones you are still missing the point there about 78 percent of these manifesto commitments that we made having been completed or about to the computer now again in state another factual inaccuracy that and the West performance of Mahamaya in corruption is the best performance of Our Fathers cci that is laughable why it's laughable because anybody who follows the CPI score reports will tell you clearly that if you look at where President Mohammed took over from a new president with the new breath of life somewhere I think around 40 something percent after conferring 47 percent and you look at most importantly where he ended because as a new president it's easy to start one or two things that look like Mars in the eyes of people and your score look I the most important thing is how you end up and look at where President Mohammed ended and look at where president aku fortress picked up the coward I've thought that he would have spoken about where President Mohammed ended and I want to challenge him to look at President Mohammed's last year's four on corruption those were the days in which he was receiving cars and claiming they were gifts and several other corruption issues so when it comes to corruption I'm not sure that he can even run into CPI much as a source of Defense but to be specific on the macro again if you go into our manifesto we said one item that we will restore macro stability and I've explained why it's important and I'll give you just a few numbers that demonstrate clearly these are not my saying so this official numbers from various government institutions e/b official numbers that have been validated by a cross-section of economists and international agencies check booth something as simple as good 2015 when mr. Oman Obama was Communications Minister the initiator is treason under John Dramani Mahama recorded growth of about 2.2 percent real GDP growth 2016 when they were living power was around 3.4 by 2017 we burn up to 8.1 2018 targeting around six point three in the 2019 at least the provision of figures that we are looking at almost hitting seven percent and this 2020 we are looking at about six point eight percent board here's what a significant when you fall countries have been able to leapfrog out of poverty like China etcetera it's because they were doing an average of about six seven eight on a consistent basis the numbers speak for themselves and if you go into the various indicators benchmark by benefit from agriculture to industry to services I have the budget here I think page 170 the 2020 budget we can spend the whole day going through those numbers you begin to see where the growth is coming from this claim that sometimes they make that all that growth is driven by oil totally not true because you find it across about 10 of the 20 economic areas are the Ghana stats car service measures take inflation the rate at which the prices I mean general price levels in the country go up in 2016 when they exit empower and Felicia was at fifteen point four percent today inflation is setting somewhere around seven point nine percent when you say the zero is because you've used a new basket or you can extrapolate backwards and find out where that indeed the trend of the curve has come down or not take even the depreciation of the currency and the vice-president spent some time to situate this you know issue of the currency depreciation in a good context the list of Ghana's currency for many years has had a set of challenges and we have mentioned that we have allah puts in place programs to literally within the context of a floating exchange rate regime arrest the rapid depreciation of the piracy and that data i have not had them contradict the data that's why we keep saying come with your data not somebody says somebody says so Jerry Rawlings first them as a democratic government 93 to 96 average our knowledge of the position of the city 27.9% about 30 percent they're roling second term 97 to 2000 25 percent depreciation annual average width of the position 2001 to 2004 John I do cuckoo for slows down to 11 percent 2005 to 2008 school for second term that's six point seven seven percent go to the mills mohammed era 2009 to 2012 he shoots back up to 10 percent 2013 to 2016 simpliciter 18% so far under who for the restrictions watch the average are not the position of the city is not zero we haven't said that it is eight point seven three percent is the second best in our country's fourth Republican dispensation this data has not been controverted I can spend time going through benchmark by benchmark of Allah whether its interest rate whether is you know even even even our debt dynamics which we shall spend some time on and later our trade balance positive now primary balance for example which shows whether your primary expenditures you are able to fund it with your primary revenues you will not dispute the fact that on their words primary balance was in negative three years running on our watch the primary balance is positive which means that we are raising more revenue then we need to spend on our primary expenditure items that's a more responsible fiscal aputure so the data speaks for itself now here's what's even critical two things this is not data that we are disputing because all over the world this data is accepted we were just on the global market for a roadshow and it translates into the cheaper reach you are getting it translates into the high levels of subscription even when you say you want X you are probably getting X times two Y or X times four on the table it translates into the ratings upgrades and outlook changes positive outlook changes that the economy is getting the only people who seem to dispute these macro figures are my colleagues on the other side but we acknowledge that macro nobody de chopped but it is necessary to establish it so that I can build their growth on it we don't have to spend too much time what I wanted to say was that I've done my first fact check and I'm gonna put the cross in perception index from 2009 to 2019 on the screen for the viewers to see themselves yeah so I'll put it on the screen for us you know now I'm putting that up I just I don't want to just listen to you pull this talk so we show you that because we decide for yourself because I have the figures here but I just don't give you a two-minute quick response to that macro economy if I take my first break we're trying to just understand where we are about butin Jumonville just before you come there on the CPI I'm wondering how you can see 43 purchases 2016 yeah 43 scored by the Mihama administration us inferior 240 support in 2017 by the Aconcagua administration you made mention of a new so if you know yeah yes very good I have yes don't worry very good so that's a different matter so I'm says not under no circumstances okay can you be seen 40 41 as superior to tell me I said that what kind of Matt Matt nobody I said I come to my next point yes the best year the west ear under Maharani was better than the best domestic oof no no Mohamed's and imprint was 40 that's it was published in one I'm good Sundays and Smith on how persuasive artist miss you statistics yes I'm going to cook just briefly okay they said that many have uncritically accepted statistical conclusions only to discover later that they've been misled they are very interesting point but I will move on to the later points that we make okay consumers of statistical information you and I must be elect to the argument that because be philosophy B was caused by a so because GDP growth of 8% for good procedure could forego coming into office in 2017 it means that President Acuff Wado is the one who caused that but it will go by that language of a argument as an old GDP growth rate of 8% okay let's decompose that GDP growth rate of 8% and let him tell us the oil component of that GDP growth rate of 8% that is one my second point has to do with the fact that Sanderson Smith is costly as against set misuse of Statistics and at one point he was going for averages if you have to go for averages and to look at the political party that has the best track record in terms of average GDP growth there it is not the MPP it should be the NDC and that is why you must be careful about going for I've read this in these things my point has to do with the fact that the GDP growth rate that we are seen when you estimate of economies and a very good one at that anyone who was watching the economics of Ghana in 2016 2015-2016 knew that with a capital injection in the year night fills in the ten fields and all we were going to have a precipitous jump in our GDP even if a kangaroo was the president of Danone we see an appreciation because of the enormous work that President Mohammad administration had done and this is where the MPP makes a very grievous mistake where they believe it's important to see the between where the MPP begins to even confuse kosa association with facility that because a casa Association of 8% good in GDP therefore the positive factor is the fact that President Ricardo became president and his robust policies led to that and when we get to the level of the exchange rate and borrowing you also get to appreciate how dr. Bonilla uses statistical averages rates and all that to try and confusion become a good leave with exchange rate and then borrowing those are two other key macroeconomic issues but also also resources of the models is also fact check the coercion for setting in action I'll show you the real figure this is the point of view stay with us welcome back to the point of view we're trying to understand where we are with this government and their performance and comprise into the largest position plants in the country dr. mani varma from the NDC to joke on chroma from the government the MPP we've spent a bit of time again about the CPI and i what i have in front of me I'll just read for you 2009 was 39 now it's for CPI the higher the figure the better 2010 was 41 2011 was 38.5 2012 was 45 now let's come to Mohammed 2013 46 2014 48 2015 47 2016 43 2017 40 20 1841 20 1941 now if you average Mahama 43 47 48 46 that's pretty high than aku Prado 40 41 42 is red clay that the corruption perception index was better in Muhammad's time than ocupado stamp on the Bills of averages if we bring the basis of if we bring in millander this is right obviously bringing Mills as a different conversation I think a move on now you're just you have time I beg you or they must not know what to do with you guys dead you dr. Baum Mia said debt accumulation and that this government has been the lowest since record started I think he's trying to see and then he also said that the exchange rate has DBC - we visited less within this period which is what I just went through before the break yeah the appreciation of the piracy yeah I want to just trended argument a bit okay I'll come to that I just want to give you one bit of data the corruption perception index report about the CPI data January 2020 the beta was gathered in 2019 I'm saying to you that the 2017 did that that is talking about was gathered in 2016 and 2017 to insist if you can give that you should always have when they gather the data and I'm saying that Muhammad and boss speaking Farsi tree becomes the issues of debt dynamics you know one of the things that our colleagues in the NBC have tried to do a very pure is to make this claim that the MPP said it whenever board which is not true the MPP made the argument that a certain over reliance on borrowing is inimical to a national interest and that there's a lot of domestic resource here that can be mobile so that we reduce our dependence on boring what was the data on debt before the MPP took over and what does the d-town let's say after the MPP took over and I refer you to two major things there's the norman now CD dead stock and I think the last time I was on your show we had some time to even debate that the nominal cd-based dead stock which very often I see my colleagues run to and see ah that is evidence but last time I saw one of them divided by the population s yes ladies every denier who's I think 6000 or 7000 again that's laughable economic analysis what you always looking out for is what we call the debt sustainability analysis so the key thing you want to look out for is what is the status of the debt sustainability analysis now if you go to page 10 of the vice-president's presentation he traces a certain track record about two major things big change in the dead talk a change in the nominal debt stock okay and most importantly the debt sustainability analysis benchmark that we have all used in this country for a very long while now now you notice that between let's say 2008 and 2012 the change in our debt stock was about two hundred and sixty seven percent if you check from this nine point seven sitting Norman now to the thirty five point six you check from 2012 to 2016 that is from 35 to 122 in CD denominated that change alone is about two hundred forty three percent 2016 to 2019 the way it ends about two hundred and three point nine billion that's about a sixty seven point one percent change in the nominal that stock now why we say that even the nominal is not as huge as the change in the debt talk is because it shows you the rate at which we are accumulating debt if you are collecting data some of these two hundred percent sixty seven percent to 67 percent numbers you need to disaggregate and see who's got a huge appetite for borrowing and borrowing and borrowing and was literally slowing down the rate of debt accumulation now here's a critical thing one of the most important measures for debt sustainability is a debt to GDP ratio analysis and when it comes to debt to GDP ratio analysis there's a key argument I want to put out here this is like go to the hospital and taking your temperature what you see is what informs you not what future thermometer is invented so if at that time you are borrowing the global benchmark says that you should not borrow beyond 60 percent of your GDP and you borrow to 73 percent of your GDP and you say that this is not borrowing how do you turn around and argue with somebody who on his watch the data available to us is that even in the worst case scenario where you add the banking sector the country issues the energy sector recovery issues debt to GDP ratio 6 at 62% you cannot sustain that argument that argument is totally laughable and there will be run out of that argument is that oh don't worry let's rebase backwards and that if you rebase backwards in our baby that GDP would have been about 55 percent and I say to anybody who leaves that argument is that if you buy that argument that what you are telling their people government is that we might as well also borrow 270 something each one because in the future when they invent a new thermometer when they release our current 62 may also go down a bit more the relevant thing is what you see at the time you are borrowing so just be clear do you think increase in debt stock is more important on debt to GDP or both I call import this I call import on the increase in the debt stock tells you your appetite for borrowing so if you have an administration that is increasing desktop by about two hundred sixty seven percent okay while we agree that downplay the nonon house that she writes shows you the appetizer in the literature coming from it does but it also shows the rate at which you are growing up some more debt that is one is a better argument 2012 increasing debt 49 in in 2000 this is percentage setting increase in debt to GDP ratio this is different but you are looking at the changing there's not stop this 67 7% good in our 2016 243 20 1967 you are seeing a slowdown and 76127 we include the financial sector and then the energy about 1 billion of energy sector payments both items which are lobbying budget at four and then you need to borrow so you things you look at the change in the details of one of the key knocking cases of debt I have always maintained we have always maintained that the CD Baisden AMI I mean the CD base debt stock is a deceptive enterprise because of the exchange rate of course look at look at the exchange with depreciation who got the pure okay okay what do I see enriched what was your mean well again for hundreds I think just before we went on the break I spent some time to go to it and I've done the numbers over the last 20 years or so since we came into the fourth Republican disposition looking at on whose watch and I just went through it briefly from Jerry Rawlings is watch 2 / 4 1 - 4 - and the data is quite clear the best period for slowing down arresting the depreciation of the CD in a floating exchange rate regime was not off before in the second term about 6% the second best sofa in the last three and three years and two months is the Aqua fado about Nia enterprise which is just about 8% compare that to the 25% and the 26% 90 your concern about debt accumulation and exchange rate I'm sure you'll be very sad in this grief I will dr. Bonilla is misusing small changes mm-hmm I want to give you and I'm always glad to have a very enlightened host like you and a very enlightened partner sparring partner yeah very good scoop of Danza Kendrick let's you okay and let's use a very simple figure that they must not dead only in a certain test tube is 10 billion Ghana Cedis so please I put that down who do you may also help in this exercise okay if a government besides to be reckless to borrow ten billion gonna see this in addition what is the percentage increase I think I said 100,000 represent yes so if you're not shocked that is 10 billion and you borrowed and billion in addition that's hum represent yes so now I show two tardes now 200 look 20 deserve 20 years very good and last I'm assuming that next year the government decides to borrow higher than the 10 billion that it borrowed the previous year so it borrows 15 billion it's going to be 15 billion other between out of the 20 billion you realize that 75% increase but ismahan represent will you tell me that boring 15 billion is less than 10 be associate increase yes just causing the previous step because the increase of 10 billion give you and represent and 15 billion has given you 75 percent increase you now understand why and I started so you know I said I sent a denominators matter so much okay I absolutely with all the energy I can come and reject dr. Baumann any more energy a lot about me dr. bamyas misuse of those kinds of percentages for energy my brother and I'm not sure who was listening carefully to dr. Bonilla when kudo was sitting in your position in the sister station the person who introduced the discussion of our national debt and mass in cities is dr. Bonilla even at that time we raised it I share your opinion I think that he was reckless he was irresponsible as an economist and he is taught that if you put the politics aside and he wants to do proper economics he can do it but he is the one who introduced this whole city so it doesn't matter our Dyson doll so that he gets to the estimate and in today my point is that this government okay [Music] okay they have two hundred okay okay okay okay yeah yes minute what is my worry but about me with an argument about capital expenditure percentages and you see when you borrow it is important that you invest them also in areas that can repay the debt in future because they go to borrow for 40 years 41 years and sometimes they make the point that oh it is all because of how great the economy is now again go to investors don't make beer decisions 40 years from now builds on just what is happening now that's my first point my second point is that if you look at the way they have been invested it makes the management of Ghana's bet very very unsustainable we see a decline from the time that we left off in the percentage of the expenditures that we are pushing into concluded so I am in Ghana please put up your mic so I can read there are three things the authority span great-tasting the guy notice argued necessary analysis results of the IMF and are taking steps to improve their dynamics and secured debt sustainability to the overall risk rating of debt distress is assessed to be high three Ghana's public that is deemed sustainable based on the authorities sustained commitment to fiscal consolidation put them brewing oh let me spin let me to three percent can I can I just finish I think I think we need to educate the public let me just finish so number one they agreed with the results so your government a jihad IMF is saying nama to the overall risk region of death distress is assessed to be high number three the honest public that is deemed sustainable based on the authorities esteem commitment to fiscal consolidation to them boring and practic debt management initiatives guided by the EM TDs and recent past discussed ones written law so this is where we end our discussion I want to move no we have only ten minutes I beg you that is cal kai move into the bank move into the financial sector can we see a financial sector or we come upon a break and as well Sushil sector because I think that those two things are key for people health education and also the financial sector this is the point of view be right back stay with us welcome back to the point of view - now we're trying to understand the state of the economy we just done macroeconomics again a bit of the CPI we already in touch on faces at all I have a lot of comments I'll be reading shortly I just wanted to show you on the screen what the CPI situation is for the past 10 years so that you don't think that we are just here to argue so the the lowest in the series was in 2009 now could you if you are to go by your argument we'll give that to explain the lowest 2009 don't forget a state in 9 yes the best in the series is 2014 yeah how much Mahama 48 so if you're saying that we should give that 42 Muhammad yes then we have to give that 39 - absolutely let me explain to you why because in election year you but can I make my point in the election years just what the NDC does is that this few a lot of allegations out there and I'll demonstrate you give me a minute allegations out there which in the minds of people when the perception is tested a PS no disclosure in 28 this 2009 it's reflective of the 2018 de Tejada this is when they cooked up bank accounts of a few unfounded allegations where did it go your flood bear let's do it yes here's my second assume on economics and ramen 30 seconds yes you see if doctor Mia poses a question in 2016 that you've moved us from nine billion to one twenty two billion explain to us what you have done with the money and after now abyssal now today 2020 the NDC has not been able to explain the exchange differentials the new drawdowns etcetera you cannot stop us when you think you only want to repeat that question you cannot test to pass from now providing the better answers and that is why we draw your attention to the debt sustainability analysis which this let me wrap nicely your most important sushar intervention as we fear cities absolutely your biggest claim under hamas infrastructure no they said oh no no no just allow two minutes to answer made insurance explain why the free SHS is such a game changer for you and you wrap up react to the fear citizens of our infrastructure good idea so you have two minutes please start idea free time create stitches is life transforming because it equips the most important resource of this country the human beings to increase their productivity in the years ahead of us there's this old argument of let's finish building the schools before we put people to who's child you see to our view is that you put all the kids in school give them an equal opportunity to get an education today because tomorrow when these kids are these computer programmers etc like we are seeing all over the world they are those who are valued the productivity of billions one of the challenges has been double track and we've explained two things double track is a temporary measure but it is also necessary to ensure that everybody gets an opportunity today even while we construct some more infrastructure and take away the double track and put us back on to have the single track platform so for us investing in people's lives like what we are doing 1.2 million I'm not sure any other intervention you can point new people going to do 1.2 million beneficiaries if you top of new people that's about I think about 30% of that number okay we we can directly say because of researchers now have an extra opportunity that you would not have huh because the enrollment numbers as we see them I think about 60% uptick this is our is because infrastructure issues or something there Chris is about the boot track yes which is what we've explained but that of course there is not enough infrastructure pumping issue so what you do you say somebody starts to stay home no in the initial stages let's have a double track system and at the same time let us work to have some more infrastructure and roll on to single track which is what we are doing and now and our number of the schools are beginning to complete their infrastructure projects and hopefully we'll be ruling off the double track and we believe that this is a life-transforming initiative for the quick reaction to fear success and then infrastructure MBC are the Midwife okay this a predecessor description of the 1992 Constitution okay the NDC implemented as cube which by far affects more people than free SHS the MDC started progressively Free Cities the MDC is never against free citizen that is why right from the word go when they introduced double track the MDC said we shall abolish the double track the MPP argued at the time that double track even allow for more contact hours and so the question now is if the boot track truly allow for more contact hours why are you trying to abolish it after we said we agree into our policies by my brother so far if you look at millisecond authorities budget estimates and then the outlines all the way from 2017 up to the 2020 and 2021 you cannot say that has been spent the total that they are spending on free as it has comes to five point six billion than a city's could you can check with the videos since inception is since inception 5.6 billion Ghana Cedis if you look at the revenue just from the oil sector the hydrocarbon sector alone as a result of President Mohammed addition of new oil fields to the hydrocarbon fills Ghana is making twenty billion dinars cities between 2017 and 2020 so on forth so 1/4 of that is spent on faces stay on point yes trouble a lot of that is spent on fear secret jutsu so so there's five to five point six divided by twenty billion it is about of that so a limited s plane yes our money on three cities they are left with over 14 billion Ghana Cedis to spend on other things look at the massive burrowing that they have also done look at the massive tax revenue that they have also written and so we are saying that there have been abysmal in terms of managing the resources of this country much is given much is expected and so it is surprising that we are not seeing the kind of calm and chroma interchanges that we saw under President Mohammed I it is surprising that we are not seeing the kind of cash were in touching that we saw in the president mama we are not seeing the kind of rich hospital which is providing quality healthcare to ghanians we are not seeing that game of University of Ghana Medical Center that we saw under President Mohammed who they have shown this money and look anytime I take away investor Afghan America center I think about what happens to the warranties there in we have not made full use of the equipment in there and assuming that the warranties on this path when we begin to use them and we begin to encounter problems who is going to pay for that is a financial loss look at the bank hospital data see also they visited another press the Mohamed has said that he will abolish the double track system he will fast-tracked the completion of the community date senior high schools he will also in terms of the education sector provide for the six new regions universities firing all of them as I think this present government has added flesh to the normal governance responsibilities like this decision we have just to mention a few demos recommended for this but if the government says the dear SMD percent of the manifesto promises and the country looks like what we have seen and feeling then it a dia manifesto was hollow or empty or there was no country at all this is your from - woman hello Bennett ask miss upon chroma is press not view on distribution of technical skills from fear success especially this time when we are talking in a transition in Ghana and then finally from Dockers tell the minister of information that with the customers of function instant news and families are really suffering I doubted the comments aware of this okay so such to my right is Kojo poem chroma and such my left is talk how many bombers somebody who I said I miss it when we go right nothing will be left but how we go left nothing will be right so you decide where you sit think about that my name is Benna Davila thank you very much for watching is the point of view my name is Bennett see you next time hi guys I hope you enjoyed this video on City TVs youtube channel subscribe for more videos on the point of view my name is bernard Avila thank you the point of view with Bernard are play Monday and Wednesday nights only on City TV [Music]
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Channel: CitiTube
Views: 17,541
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Keywords: CitiTube, CitiTube Ghana, Citi TV, Citi TV Ghana, Citi TV Live, Ghana, Ghana News, point of view, citi newsroom, bernard avle, ghana politics, kojo oppong nkrumah, edward omane boamah
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Length: 55min 58sec (3358 seconds)
Published: Tue Feb 18 2020
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