{"id":410976,"date":"2011-04-30T18:51:35","date_gmt":"2011-04-30T18:51:35","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/04\/30\/dr-duffuor-receives-award-in-london\/"},"modified":"2011-04-30T18:51:35","modified_gmt":"2011-04-30T18:51:35","slug":"dr-duffuor-receives-award-in-london","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/04\/30\/dr-duffuor-receives-award-in-london\/","title":{"rendered":"Dr. Duffuor Receives Award In London"},"content":{"rendered":"

Dr. Kwabena Duffour, Minister of Finance and Economic Planning has received the \u201cThe Banker\u201d African Finance Minister of the Year Award at a short but impressive ceremony in London.<\/p>\n

The award is conferred every year on Ministers who have excelled in economic management of their countries. In selecting Dr Duffour, the Banker, a leading international financial magazine said in less than two years, Dr Duffuor has implemented fiscal and financial policies that promote fiscal sustainability and supports the domestic financial system.<\/p>\n

They noted that his vision for the medium term has been to accelerate growth of the Ghanaian economy without compromising macroeconomic stability. \u201cHe has also established an oil fund aimed at ensuring that revenue from the country\u2019s emerging oil and gas industry is used wisely\u201d.<\/p>\n

Presenting the certificate and the trophy, Mr. Brain Caplen, Editor of the Banker Magazines, said the award instituted since 2003 is to recognized Finance Ministers and Central Bank Governors who not only excel in the management of their economies, but also courageously take unpopular and difficult decisions in the face of strong opposition. As well as being sighted in terms of getting a decision right at a time when the outcome was unclear.<\/p>\n

\u201cAs in other countries, in Ghana tough decisions have been made and there are tough decisions to take. Oil production will no doubt generate demands for immediate spending. But the Banker\u2019s view is that in Mr. Duffour you have a steady hand at the wheel and that under his guidance Ghana can now progress to the next economic level\u201d<\/p>\n

Dr Duffuor expressed his appreciation to the Publishers for the recognition of his work which has resulted in not only putting the economy on a growth trajectory but has made significant contributions to civil society, government, business, sciences, various professions and other philanthropic causes.<\/p>\n

He also expressed his appreciation to the President, the Government and people of Ghana as well as the staff of the Finance Ministry for their support. \u201cI dedicate this award to the people of Ghana who have been patient to allow these tough measures to be taken in the interest of Ghana. It has not been easy, the pressures were high, people lost their businesses, my life was in danger but I felt that Ghana has to be saved hence the tough measures\u201d he said<\/p>\n

He recognized that a lot more needed to be done \u201cBack home, there is a lot to reform and improve, mostly to strengthen the ability of the poorer members of our community to develop.\u201d<\/p>\n

During the past two years, Government initiated wide range of economic reforms very comprehensive in scope and carefully sequenced. The reforms concentrated on the attainment of macroeconomic and fiscal stability through revenue mobilization, prudent expenditure management and the control of money supply to meet inflation and economic growth targets, as well as improving the balance of payments position.<\/p>\n

This was combined with efforts to support the private sector and promote exports; these policies have enabled the economy to record outstanding achievements within two years. Added to the improved macroeconomic situation is the oil factor, which over the medium term is expected to bring in revenues to the tune of about US$1.0 billion to support social agenda programmes and address developmental issues.<\/p>\n

In his welcoming address, Prof Kweku Danso Boafo said this was a proud moment for Ghana, \u201cGhanaians should walk with a lot of pride and determination as there is nothing that a Ghanaian could not do provided he or she is determined and committed\u201d.<\/p>\n<\/div>\n

<\/p>\n

See original here:
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Dr. Kwabena Duffour, Minister of Finance and Economic Planning has received the \u201cThe Banker\u201d African Finance Minister of the Year Award at a short but impressive ceremony in London. 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