“With make-believe data, the best you can achieve is make-believe results”

Thanks to Morten Jerven (@MJerven) for pointing me to this article questioning the credibility of the Ghana Statistical Service.  As the article notes, much of the criticism the agency has received comes from an Dr. Mahamudu Bawumia, an economist and banker who unit recently was the Deputy Governor of the Bank of Ghana.  Now he is a candidate for the opposition party, which means there might be a political agenda behind his criticisms.  Even given this, his criticism might still be right.

The article gives all the details and the back and forth between the critics and the agency, but here is the best part:

[Dr. Bawumia’s] lecture, last month, at the Central University College dubbed “The IMF Bailout: Will the Anchor Hold?,” among other things, pointed to the data presented to the IMF for the bailout. “If you have make-believe data, you will end up with counter-productive or inadequate responses to economic policies,” he said.  “If your data are not credible, the anchor cannot hold. With make-believe data as the basis, the best you can achieve is make-believe results, which will soon be exposed, as we are witnessing currently.” 

One thought on ““With make-believe data, the best you can achieve is make-believe results”

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