Skip to main content

IMF models are necessary, but not sufficient-Dasebre Oti Boateng

By: Fred Yaw Sarpong

The Omanhene of the New Juaben Traditional Area, Dasebre Professor Emeritus Oti Boateng has stated that the economic models and solutions of the International Monetary Fund (IMF) are necessary for Ghana, but statistically they are not sufficient for the country.

Supporting the home grown efforts proposed by government to solve Ghana's economic challenges, the Emeritus Statistician said  the nation needs sufficiency model which must come from the communities themselves and indigenously germinated.

"We cannot go any other way except it is home grown. I am glad the Senchi accord has a consensus on home grown development model," said Dasebre Oti Boateng.

The New Juaben Omanhene said this when members of the Institute of Financial and Economic Journalists (IFEJ) called on him at the New Juaben Secretariat Board at Koforidua in the Eastern Region of Ghana.

Dasebre Dr. Oti Boateng said it is important to empower communities as far as the development of this country is concerned. "So if we want real development, it is the people within the community," he noted.
He hailed the recently held National Economic Forum,  saying that taking  ideas and opinions from various stakeholders into considerstion is the best way to move this country forward.

"If you don’t consider the inter-dependency of the several parts, it will go bad," he added. 

"When you have the whole country with communities and traditional areas, the traditional areas or the district assemblies formed entities within the area, and the development of the area depends on these entities and their people," he emphasized.

He indicated that it is only when an entity is inter-dependent on its several parts that you can take action to tackle the several issues that confront the country". He explained that building a nation needs collective efforts from all the citizens but not a particular set of people.

He announced that he has developed a development model which he will officially launch on November 1, 2014, during the celebration of the Akwantu Kesie festival.

The IFEJ in partnership with GIZ was in the region to train over 40 financial journalists on extractive industries at the  Mac-Dic Hotel in Koforidua.
The 5-day training program, which started on Thursday 15th May, 2014 ended on Monday 19th May, 2014.


Popular posts from this blog

Akuapem-Apirede to promote tourism

By: Fred Yaw Sarpong
The Chiefs and people of Akuapem-Apirede in the Okere Constituency of the Akuapem North Municipality have put in place strategic plans to promote tourist sites in the town.
Apiredehene, Nana Saforo Okoampah III told the Daily Express that their vision is to develop Apirede in a modern way.
“We want to have a modern society and environment. We are doing this on the basis of promoting tourism here,” he added.
According to the Apiredehene, it’s their plan to promote the historic sites and the geographical location of the community.
Apirede is one of the 17 towns that forms the Akuapem State and historically, it used to house the armours of the Akuapem State. The community is part of the Nifa division of Akuapem.
He stated that one of those things was called ‘Odosu’ (the war god for Okuapemhene). “The Chief Executioner in those days for Akuapem also came from Apirede and items that he used were also kept here,” he stated.
“These are a lot of things …

Ghana to benefit from oil spill fund

By: Fred Yaw Sarpong

Ghana as crude oil importing country will benefit from the International Oil Pollution Corporation Fund if the country witnesses oil spill at its ocean.

“The fund is a global fund and it’s meant for the countries that import crude oil. The fund is voluntary but Ghana through the Tema Oil Refinery (TOR) contributes annually on behalf of Ghana,” Mr. Kojo Agbenor Efunam, the Deputy Director in charge of oil and gas at the Environmental Protection Agency (EPA) told the Daily Express.

He explained that the fund is mostly for crude oil importing countries but not those into production and exportation.

Mr. Efunam further explained that once Ghana is part of the fund, anytime there is an oil spill involving an oil tanker on the seas of Ghana, the country can apply for the fund to solve any problem resulting from the spillage.

“If the incident does not involve a tanker the country does not benefit. But if the incident involves a tanker the country applies for the fund,” he ment…

PFM Act to guide local government authority borrowing

By: Fred Yaw Sarpong
The bill, Public Financial Management (PFM) Act 921 which has been passed into law by Parliament is to guide public institutions especially the local government authority borrowing. The law was pass on 3rdAugust, 2016
According to the law, local government authority, a public corporation or state-owned enterprise is liable for the debt and other obligations without recourse to Government, unless otherwise explicitly guaranteed by Government in accordance with this Act.
Madam Eva Esselba Mends, the Chief Economic Officer and Group Head of PFM at the Ministry of Finance told the Daily Express that the law involves a lot but it also give instruction to how state institutions can borrow especially with the  local government authority.
She mentioned that there is no specific law in place that gives direction as to what local authority can do when it comes to borrowing by the authority. Other public corporations sometimes borrow with huge amount for their operation but loca…