Category: Politics

The President Kufuor administration decided to seek financial relief through the HIPC initiative in the early days of his administration due to the distressed nature of the economy and the massive debts inherited from the previous government. It drew fierce opposition across the country, including from members of his government and party, to name a few. Even though the Britton Wood institutions supported the decision to sign onto the HIPC programme.

The World Bank and the International Monetary Fund (IMF) established the Debt Initiative for Heavily Indebted Poor Countries (HIPC) in 1996. It built a system for all creditors, including multilateral creditors, to offer debt relief to the world’s poorest and most financially strapped countries, thereby mitigating the constraints that debt accumulation imposed on economic growth and poverty reduction in these countries. The HIPC Initiative was created as a critical component of a larger development architecture that includes policies, programmes, and institutional development to support long-term growth and poverty reduction.

Despite the uproar that this singular decision had caused in the country, with one accord like ants marching to find food for the future, the Kufuor-led government needed to proceed to the IMF and World Bank as a necessary measure because the government could not do much in reducing poverty and stabilising the economy with the skyrocketing debt that had been inherited.

The stage was set, and all eyes were on who would lead the negotiations. To negotiate this historic HIPIC initiative, which was then new to the country, the government needed to assemble a competent team to navigate through these unchartered waters.

Fortunately, Dr Mahamudu Bawumia had returned from his overseas stewardship as an Assistant Professor of Economics at the Hankamer School of Business at Baylor University in Texas (1996-2000) to serve his nation as an Economist at the Bank of Ghana.

In 2001, Dr Bawumia was chosen as the Team Lead for the Bank of Ghana’s technical negotiation team, as well as a member of the government team that negotiated with the World Bank and the International Monetary Fund under the HIPC and PRGF initiatives.

As one of the team leaders, Dr Mahamudu Bawumia was instrumental in negotiating the HIPC proposals. The HIPC initiative gave significant debt relief to President Kufuor’s inherited economy, as well as major rural infrastructure development through the supply of educational and health facilities, among other things.

Dr Bawumia’s vision and love for his country would not allow him to give up until the goal was met. In doing so, he served on the government’s technical negotiating team for the HIPC Paris Club and Completion Point Negotiations. Ghana completed the HIPC process, resulting in significant debt relief totaling nearly $4 billion.

Dr Bawumia’s zeal and competence during that period are worth emulating as Ghana continues to benefit from his ideas. It was unsurprising that Mr Osarfo Marfo, Hon Baah Wiredu of blessed memory, and Governor Paul Acquah, with whom he collaborated on several projects, including the HIPC initiative with President Kufuor’s blessing, strongly recommended him to Nana Akufo Addo to be his running mate in the 2008 general elections.

Dr Mahamudu Bawumia has contributed to the success of all NPP governments, which is commendable.

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Dr Yaw Ampofo-Twum

Snr Fellow
Centre for Planning and Economic Research

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OPINION: Saanu Abacha writes;

The 2012 election petition was the birth of Vice President Dr. Alhaji Mahamudu Bawumia as a force in Ghanaian politics as he shined magnificently as the NPP’s star witness in their case against election irregularities.

Though the NPP lost, his performance served as a fertile ground for the advancement of his standing with the Ghanaian public as Dr. Bawumia displayed his eloquence, intelligence, analytical mind and skills, and complete mastery of debate in the full glare of Ghanaians on national television.

The trial displayed once and for all the potential of Dr. Bawumia as a future leader of Ghana and led to then-candidate Akufo-Addo expressing immense appreciation to him after the trial.

Dr. Mahamudu Bawumia and President Nana Addo Dankwa Akufo-Addo formed a unique bond on the back of that trial as the running mate completely proved his utility and versatility as an asset to the New Patriotic Party.

Akufo-Addo and Bawumia will eventually win the 2016 elections, once again on the back of a spectacular performance from Dr. Bawumia as he diagnosed the problems with the Ghanaian economy and completely hammered then President Mahama in their public spats, forever gifting him the label of ‘incompetent’.

All this has left many believing strongly that Bawumia is President Akufo-Addo’s natural successor as leader of the NPP.

The incumbent National Democratic Congress (NDC), led by President John Dramani Mahama and running mate Paa Kwesi Amissah Arthur, took on the opposition New Patriotic Party (NPP), led by Nana Addo Dankwa Akufo-Addo and Dr. Mahamudu Bawumia.

Mahama had taken over as President for the late Professor John Evans Fiifi Atta Mills after his untimely death on July 24th, 2012, and was seeking an extension of his rule after only five months in office.

After a long and acrimonious campaign followed by a somewhat chaotic voting process, then Electoral Commission boss Afari Gyan declared the NDC’s John Mahama as the winner with 50.7% of the vote despite numerous complaints and pointing out of irregularities by the NPP.

The NPP headed to court to fight the verdict and the legend of Dr. Bawumia was born.

Prior to the petition, Dr. Bawumia, set to be the NPP’s star witness, was involved in a ghastly accident on the 18th of March 2012 that nearly claimed his life.

The V8 Land Cruiser he was travelling in whilst returning to Accra from the enskinment of the Bole-Wura suffered two burst tyres and somersaulted.

Miraculously, Dr. Bawumia and the other occupants of the car all escaped unhurt.

The NPP running mate shook off the near-death incident and testified in the trial for days on end as he forcefully made the NPP’s case.

Dr. Bawumia went toe-to-toe with Tsatsu Tsikata, one of Ghana’s eminent lawyers and legal scholars, and by all accounts absolutely acquitted himself well.

Bawumia adeptly and adroitly skipped over all legal traps Tsikata attempted to set in his way and was brilliant in pointing out irregularities the NPP’s audit of the election had uncovered.

The infamous saying, ‘you and I were not there’, was borne out of the legal and intellectual battles between Bawumia and Tsikata in that trial.

Eventually, the NPP lost the petition but it was certainly not due to the lack of presenting a brilliant case.

Bawumia became a political force during that trial and on the back of that, helped Nana Akufo-Addo handily sweep to power by defeating John Mahama in their rematch in 2016.

The 2012 election petition displayed everything that made Bawumia a success as an economist and a politician – intelligence, eloquence, and an uncanny ability to remain cool under pressure.

Columnist: Saanu Abacha