Wednesday, August 20, 2008

DR. BAWUMIAH DESCRIBES HIS NOMINATION AS A WIN FOR NPP


The newly elected running mate, Dr Mahamadu Bawumiah to the NPP flag bearer, Nana Addo Danquah Akuffo Addo, has described his selection as a victory for the NPP Party. According him even though he is not known on political platforms, he has been active at the apex of the economic platform and has contributed to the economic to the achievement of the NPP under the leadership under the leadership of His Excellency President J.A Kufour.

The entrance of the Deputy Governor of the Bank of Ghana, into the politics of the New Patriotic Party has cultch a new OBAWUMANIA!!!! Campaign slogan which is catching up slowly with the NPP activities and supporters.

Acknowledging the fact that he is new in partisan politics of Ghana, Dr. Bawumiah pointed out that he has been active at the apex of the economic platform and feel proud to have contributed to the economic achievements of the NPP UNDER THE LEADERSHIP OF His Excellency President J.A Kufour.
Among some of Dr. Bawumiah achievements are as follows:

• He is involved in putting together and implementing the framework that guide monetary policy, as well as the workings of the Monetary Policy Committee at the Bank of Ghana.

• Played a major part in the banking sector reforms that have increase the number of banks and bank branches throughout the country, resulting to a major increase in the availability of credit to Ghanaian businesses and individuals.

• Led the Bank of Ghana’s technical negotiation team, and have been a part of the Government team that negotiated with the World Bank and International Monetary Fund since 2001 through HIPC and the poverty Reduction Growth Facility.

• Served as a member of the Government technical negotiating team on HIPC, Paris Club and HIPC Completion Point Negotiations. Ghana completed the HIPC process successfully with significant debt relief of close to 4Billion USD.

• Served as a member of the Government team negotiated the Millennium Challenge Account (MCA) Compact with the US Government and was responsible for the drafting the financial sector component of the MCA Compact. The MCA Compact yielded financing for 547 million USD worth projects.

• He also served as a member of the Government Technical Team on the Deregulation of the Petroleum Sector. We achieved a successful deregulation, which has saved Government some $700 million over the last three years.

• He was the Chairman of the Capital Market Committee, responsible for the strategy for accessing the international capital market with a debut bond issue of US$750 million. which was four times oversubscribed. The bond proceeds have been critical in undertaking investment in the energy sector and have also been earmarked for the Kumasi-Accra Dual Carriageway as well as the Western Railway Line.


• He was part of the team that designed and implemented the successful redenomination of the cedi which has been hailed globally. Through this process, the cedi has been considerably strengthened as Ghanaian has found renewed confidence in their currency.


• Played a key role in the design and implementation of the e-zwich common platform for all banks saving and loan companies and rural banks. This common platform is modernizing the country’s payment system.

Dr. Mahamadu Bawumiah said the country is at the brink of a historic economic breakthrough “Divine providence and sterling leadership have positioned the NPP as the party you can trust to deliver this prosperity to every individual, home and community in Ghana” Noting that in order to achieve this, first the NPP must win the election in December.
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