ECAMA has challenged the Minister of Finance's claims that much of the development spending is going for long term investment. It turns out that much of the money will be going for consumption. This is serious and it is a pity that the Minister has chosen the mendacious path to make his case.
Our Minister of Finance has always been largely focused on stabilisation and not economic development. This partly explains his attachment to the IMF and his failure to source much more readily available developmental funds for infrastructure. His Ministry is simply unable to come up with bankable projects.
Age is also beginning to show. On all too many occasions his Ministry has made huge miscalculations, the recent one being the ADMARC bailout. Huge amounts of castigate money disappeared under his watch. And yet he has not been taken to task for this. He recently announced that the economy would grow 7 percent while at the same time telling the public that the Ministry still had no estimates of how individual sectors would grow. This undermines his credibility, an important asset for a modern-day Minister of Finance.
The country badly needs a young, development oriented Minister.of Finance.
Our Minister of Finance has always been largely focused on stabilisation and not economic development. This partly explains his attachment to the IMF and his failure to source much more readily available developmental funds for infrastructure. His Ministry is simply unable to come up with bankable projects.
Age is also beginning to show. On all too many occasions his Ministry has made huge miscalculations, the recent one being the ADMARC bailout. Huge amounts of castigate money disappeared under his watch. And yet he has not been taken to task for this. He recently announced that the economy would grow 7 percent while at the same time telling the public that the Ministry still had no estimates of how individual sectors would grow. This undermines his credibility, an important asset for a modern-day Minister of Finance.
The country badly needs a young, development oriented Minister.of Finance.
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