Dr Mahamudu Bawumia, the Vice President of Ghana, arrives in Guyana this weekend for a three-day visit as the two countries deepen relations on the political and economic fronts.
“Our engagement is sharing experiences, (Ghana) supporting us in developing the management structure for the spending of oil resources,” Vice President Dr Bharrat Jagdeo told the News Room ahead of the visit.
Dr Jagdeo said too that the visit of the Ghanian Vice President will allow for the exploration of opportunities between the private sectors of Ghana and Guyana.
The visit of Dr Bawumia, an economist and banker by training, follows Dr Jagdeo’s visit to Ghana in mid-October. Relations with Ghana are the most robust Guyana has had with any African nation at any point in time.
Dr Bawumia serves as head of Ghana’s Economic Management Team. He was the Deputy Governor of the Central Bank of Ghana between 2006 and 2009 and also served as Resident Representative for the African Development Bank in Zimbabwe from 2011 to 2012.
Following Jagdeo’s visit to Ghana, top Ghanian officials arrived in the country to help support the creation of Guyana Local Content policy and the revision of the Sovereign Wealth Fund that deals with the management of oil revenues.
“We’ve had a lot of consultants from the northern countries, but it’s time that we go to a country that has actually had to build these institutions from scratch in a relatively short period of time,” Dr Jagdeo had stated in explaining the decision to see Ghana’s assistance.
Dr. Jagdeo also emphasised that Ghana has had “enormous experience” in building out its oil and gas structure.
Dr Bawumia is expected to hold wide-ranging discussions with Dr Jagdeo, President Irfaan Ali and other members of the government.
The Vice President’s visit will pave the way for the visit of the Ghanian President Nana Addo Akufo-Addo for the Guyana Energy Conference early next year.
President Ali and Akufo-Addo had met on the sidelines of the 76th United Nations General Assembly (UNGA) in New York last September. Since that meeting, there have been sustained talks between the two countries.