Minister for Finance and Economic PlanningDr Kwabena Duffuor, Minister of Finance and Economic Planning holds a PhD in Economics from the University of Syracuse, New York, (1979). He also possesses two Masters’ degrees in Finance and Banking, and in Economics.
He was appointed by President John Evans Atta Mills as the Minister of Finance and Economic Planning on February 13, 2009. Until his appointment, the retired Governor of the Bank of Ghana was the Chairman of Star Assurance Company and Unibank Ghana Limited among others.
Dr. Duffuor, an economist by profession is a native of Kumawu in the Ashanti Region of Ghana. He attended Prempeh College where he obtained his Ordinary Level and Advanced Level Certificates in 1962 and 1964 respectively.
From 1964 to 1968 he studied at the University of Ghana, graduating with a Bachelor of Science Degree in Economics.
Between 1973 and 1979 he was at Syracuse University where he was awarded MBA (Finance and Banking) in 1974, MA (Economics) 1975 and his PhD in 1979. His PhD dissertation was titled “The Impact of the Post 1971 Exchange Rate System on Developing Countries, with Special Reference to Ghana” (Syracuse University, December 1979).
Dr. Duffuor’s working experience spans 33 years. He worked first with the Volta River Authority (VRA) immediately after completing his first degree in Economics. Thereafter he worked with the Ghana Commercial Bank and held various positions within the Bank between 1970 and 1979 and between 1980 and 1990 culminating in his appointment as the General Manager of the London Branch of the Bank in 1991. He also served for a year at the IMF Africa
Department as an Economist from June 1979. In July 1995 he was appointed the Deputy Governor of the Bank of Ghana and then the substantive Governor in July 1997 until 2001.
Dr Duffuor has served and continuous to serve in various capacities as Director or Chairman in eminent institutions such as Star Assurance Company, State Gold Mining Corporation, Unibank Ghana Limited, Shell Ghana limited, Accra Brewery Limited, Ecobank (Abidjan, Cote d’Ivoire), Ashanti Goldfields Company and Ghana International Bank PLC London.
He is also a prominent member of various professional bodies including the Advisory Board of the Institute of Social Statistical and Economic Research (ISSER), University of Ghana, Legon; Economics Society of Ghana, Association of Rural Banks; Ghana, Member of the Board of Governors of the Tweneboa Kodua Secondary School, Kumawu, and a Fellow of the Charted Institute of Bankers, Ghana, etc.