‘Good governance promotes prudent devt’

The Executive Chairman of Northern Ghana Aid (NORAID), Mustapha Sanaa, has challenged leaders to re-dedicate their commitments to good governance, democracy and rule of law in order to improve livelihoods of their citizens.

“Good governance, democracy and rule of law will reduce extreme poverty and spur inclusive growth and development, critical to poverty reduction, promote investments in critical areas like education, healthcare delivery, job creation and thriving private sector development,” he stressed.
 
Mr Sanaa, who threw the challenge at the end of the Annual Meetings of the World Bank and the International Monetary Fund (IMF) in Washington DC in the United States, cautioned that “the warning signs were written, the world’s financial spectrum is going through many challenges and having a toll on economies of major global benefactors.

The week-long meeting was on the theme: “International Development Agency impact -A call to action.”

Mr Sanaa pointed out that “the picture is not clear as the world’s economy is going through turbulence, growth stagnation, financial volatility, rising debts and recent trade tensions, all warnings delivered by the World Bank but good governance, democracy and rule of law will ensure prudent fiscal management of economies, reduce corruption and prudent use of development and resources.

“Much as the advanced nations are pushed to increase support and assistance to global development and poverty reduction efforts, leadership must play their role to ensure development assistance makes real meaning to the world’s poor. It’s two-way issue, while we ask International Development Association donors to increase support and assistance after every cycle, we must expect beneficiaries to increase efforts to improve livelihoods.

“For Africa to improve her performance in poverty reduction, mobilising private sector as  key partner is imperative, increasing domestic revenue collection and protecting natural resource endowments, we must challenge ourselves on concepts of Ghana Beyond Aid, structured within framework of good and accountable governance.

David Malpass, the President of the World Bank, underscored the importance of the International Development Agency to global efforts for extreme poverty reduction. -gna.org