Is there a reward for overly criticizing government?


Dr Gideon Boako is an aide to VP Bawumia

Dr Gideon Boako, the spokesperson of Vice President Mahamudu Bawumia, has responded to recent editorials by Citi FM morning show host Bernard Avle.

Dr Boako, in a February 19, 2024, post on X, questioned the propriety behind Avle’s call for the government to consider a Negative Interest Rate Policy (NIRP).

He said Avle’s position was a bit surprising, especially relative to his views on the exchange and interest rates.

“In this country of highly opinionated people, let the Central Bank bring a negative interest rate policy, and you would hear the same people talking as if the country is collapsing,” his post read in part.

The Tano North parliamentary candidate for the New Patriotic Party (NPP) went on to give an economic explanation of how unrealistic Avle’s position was.

In his concluding remarks, he asked whether criticism of the government was just for the sake of it.

“Let’s be measured in our policy prescriptions in our attempt to criticize. Is there a reward for overly criticizing government? I would like to know,” Boako asked.

A negative interest rate, according to a 2020 article on the International Monetary Fund (IMF) website, is explained as follows:

In modern times, central banks have charged a positive nominal interest rate when lending out short-term funds to regulate the business cycle. However, in recent years, an increasing number of central banks have resorted to low-rate policies.

Several, including the European Central Bank and the central banks of Denmark, Japan, Sweden, and Switzerland, have started experimenting with negative interest rates —essentially making banks pay to park their excess cash at the central bank.

The aim is to encourage banks to lend out those funds instead, thereby countering the weak growth that persisted after the 2008 global financial crisis. For many, the world was turned upside down: Savers would now earn a negative return, while borrowers get paid to borrow money? It is not…



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Is there a reward for overly criticizing government? –