A former Deputy Governor of the Bank of Ghana, Dr. Mahamudu Bawumia wants Ghanaians to be patient with managers of the economy as they strive to implement policies to their benefit. Speaking on Joy FM’s Super Morning Show on Tuesday about his yet-to-be-launched manual on monetary policy, the former Deputy Governor said Ghanaians must appreciate the fact that governments do not consciously set out to ruin the economy. What the problem is, he observed, is that there is an inconsistency between the expectation of the people and opportunities available to meet those expectations. But that inconsistency, the running mate to New Patriotic Party flag-bearer in the 2008 elections, Nana Akufo-Addo, blamed on the nature of political campaigns during elections. He said while the way the managers of the economy go about their business may fail to deliver the required outcomes, “you cannot question their intentions and I think it is important we all as a collective support what they are doing.” Dr. Bawumia said the handlers of the country’s economy must be altruistic – take decisions that will not inure immediate benefits but have long - term sustainable impact on the society. Describing his book as a factual account of the monetary policy of Ghana since independence, the researcher, said all the reforms that have been embarked upon by the central bank have had limited impact as a result of teething problems such as lack of a reliable address system in the country. Dr. Bawumia is unimpressed about the unwillingness of banks in the country to reduce the interest rates even in the face of progressive cuts in the policy rates by the Bank of Ghana. “We see the developed countries and we like to have exactly the sort of interest regime that they have [but] the question is, how do we go about it? He expressed the hope that the recommendations contained in his book, 'Monetary Policy and Financial Sector Reform in Africa: Ghana's Experience,' relating to lowering interest rates and other critical issues of the economy, will be adopted and implemented. Dr. Mahamudu Bawumia is one of the key figures behind some of the landmark initiatives embarked on by the Bank of Ghana such as the re-denomination of the cedi, the e-zwich national biometric payment platform, and the controversial inflation targeting regime of the Central Bank. He explains some of the reasoning behind the policies in the book titled “Monetary Policy and Financial Sector Reforms in Africa: Ghana’s experience”.It is believed to be the first comprehensive book on Ghana’s monetary policy. Story by Malik Abass Daabu with additional files from Israel Laryea of Joy Business