Ghana has suffered from a stunted growth over the years due to lack of integrity of some previous leadership. The Minister of Finance and Economic Planning, Dr. Kwabena Duffuor made this statement during a meeting with a cross section of Ghanaians in Washington D.C.
In his speech, he observed the need for all governments to rule guided by the principle of integrity.
According to him a good leader must exhume veracity. He continued, when a leader has a good heart towards the work at hand, providence will endow him requisite skills to manage efficiently.
He further stressed prime importance in the training of children so they grow into good future leaders.
He said Ghana is not poor, but had been wasteful in the management of her resources; noting further that when expenditure exceeds revenue, there are bound to be problems with liquidity. He explained:
“We need to carefully work on cost reduction, remove waste in the system and manage every little resource with thrift.”
The Minister who was in the U.S. for the Spring meeting of the World Bank, assured Ghanaians in the Diaspora that despite 15% deficit and huge overdraft inherited from previous government, the Mills’ Administration is working hard to make life bearable for all.
He further noted that with the current world economic crisis, the next two years will be very challenging in the lives of Ghanaians.
However he assured the gathering that the current economic turmoil is a passing phase since Ghana will soon become a major oil exporter. The only way to get there, he said, will be to manage our resources with prudence.
The Hon Minister implored Diasporans not to stop remitting home as it is a major avenue of foreign exchange. He stressed that as little as $15.0 to the average home in Ghana is a lot of money.
During questioning time Diasporans expressed dismay at the negative reports on the Ghanaian economy which they believe may scare investors away and the spate of road accidents, and asked what government is doing to correct this horrific trend.
They wished government will make it possible for those with ideas that will help stop these accidents come up with solutions, plans and project proposals. To this end, they proposed the usage of CCT cameras to check over-speeding and recalcitrant drivers fined to generate extra funds for development. Dr. Duffuor interjected that in economics one must exercise care in certain public disclosures in order not to “cut off noses to spite faces”. The scare which certain utterances made immediately after the demise of the previous government caused was not necessary as by June to July this year, the economy will be well and stable, he hinted.
In response to the question on the way forward the honorable Minister admonished all to love one another as man by nature thrives on love.
The Acting Head of Mission, Mr. Adulphus Arthur earlier in his welcome address expressed his gratitude to the Hon. Minister for finding time to visit the Mission. He noted that all present have found some relief with his explanation of the country’s financial situation.
Those present at the meeting were N.D.C Executives of Washington D.C. led by the Chairman Mr. Ben T. Mensah, Vice-Chairman Mr. Dan Baiden and N.A.C.C. Treasurer, Ms. Comfort Laryea as well as other executives. In attendance were representatives of senior staff of the Washington D.C. Mission. The Vice- Chairman Mr. Dan Baiden hoped that in the near future t he President, H.E. John Atta Mills and the Vice President H.E. John Mahama will make time to visit North America.
Author: Katherine Carboo(Mrs.)
Embassy of Ghana, Washington D.C.
