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General News of Monday, March 25, 2019
Source: starrfm.com.gh
2019-03-25
Dr. Hafez Ghanem, Vice President of the World Bank for Africa, and President Nana Addo Dankwa Akufo-Addo
The President, Nana Addo Dankwa Akufo-Addo, said that the lack of discipline in the management of the economy could no longer be perceived by those who were entrusted with the power to exercise the authority executive in Ghana.
Addressing World Bank Vice President for Africa, Mr. Hafez Ghanem, at Jubilee House, when he paid a courtesy call, the President said that Ghana had benefited 16 bailouts from the International Monetary Fund since its independence in 1957 is largely due to the indiscipline of those who have the power to manage the economy.
"We have had sixteen rescue programs with the IMF since independence. That makes no sense, largely because the discipline we should have in managing our public spending and managing our public finances did not exist, "said the president.
Mr. Akufo-Addo said that the energies of his administration were focused on the need to ensure total discipline in the management of the economy.
"We think we can do it. We are thirty million people here with considerable resources in their natural form, and if we have the political framework and the policy options we take are once in favor of this process, we plan to be in less than a decade, capable of shaping a new self-sustaining economy, this is the economy we want to call "Ghana Beyond Aid," said the President.
Hafez Ghanem said in his remarks that Ghana is playing a catalytic role on the African continent and that the World Bank looks forward to helping it strengthen its growth model on the continent. The World Bank, he says, endorses Ghana's plan to modernize its economy through industrialization.
The World Bank, he added, is eager to offer Ghana all the support it needs in its industrialization agenda. He congratulated the government on the Free High School High School (Free SHS) program.
The World Bank, he noted, admires the government's efforts to educate the country's youth. The World Bank, he added, would be delighted and ready to help as much as possible to make the program a success.
World Bank Vice President for Africa Hafez Ghanem is in Ghana for a three-day working visit. He is expected to participate in a series of African civil society organizations and parliamentary dialogues, connecting 15 countries from sub-Saharan Africa. He will also publish the World Bank report entitled "Leveraging Parity – Unleashing the Potential of Women's Business in Africa".
Mr. Ghanem will visit projects funded by the World Bank Group in Accra and outside, including the Accra Digital Center, as well as the Women in Agriculture and VegPro Greenhouse Project. Farms, both located in Akuse, in the eastern region.
This is his first visit to Ghana since his appointment to his current position in 2018.
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