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Global Financial System Is Rigged Against Africa – President Akufo-Addo Confronts World Leaders In UN Speech

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President Nana Addo Dankwa Akufo-Addo has called out the global financial system for being rigged against Africa and for the benefit of the richest and most powerful nations on earth.

Speaking to the UN General Assembly, Akufo-Addo called for the system to be fixed to be fair to all, especially Africans.

“The financial markets have been set up and operate on rules designed for the benefit of rich and powerful nations, and, during times of crisis, the façade of international co-operation, under which they purport to operate, disappears…these are the savage lessons that we have had to take in, as the world emerged from the grip of the coronavirus to energy and food price hikes, and a worldwide rise in the cost of living. The necessity for reform of the system is compelling,”  he said.

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Stressing that “our world is currently not in a good place”, he recalled an observation by the World Bank which has described the global economy as “enduring its steepest slowdown since 1970.”

With the world confronted by a devastating global economic pandemic, pushing Africa into its worst recession for half a century, President Akufo-Addo stated that a slump in productivity and revenues, increased pressures on spending and spiralling public debts confronted the continent without relent. 

“As we grappled with these economic challenges, Russia’s invasion of Ukraine burst upon us, aggravating an already difficult situation. It is not just the dismay that we feel at seeing such deliberate devastation of cities and towns in Europe in the year 2022, we are feeling this war directly in our lives in Africa. Every bullet, every bomb, every shell that hits a target in Ukraine, hits our pockets and our economies in Africa,” he said.

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“[Inflation] it hit a 40-year-high in the US and UK in recent months. There is record inflation in the euro zone. Several African countries have inflation rates surging three to four times higher than what they were just two years ago,” he continued.

In Ghana, the President indicated that “we are experiencing the highest inflation for 21 years. The high costs of food are hurting the poor, especially the urban poor, the most.” 

“It has become clear, if ever there was any doubt, that the international financial structure is skewed significantly against developing and emerging economies like Ghana. The avenues that are opened to powerful nations to enable them take measures that would ease pressures on their economies are closed to small nations.

“Credit rating agencies have been quick to downgrade economies in Africa, making it harder to service our debts. The tag of Africa as an investment risk is little more than, in substance, a self-fulfilling prophecy created by the prejudice of the international money market, which denies us access to cheaper borrowing, pushing us deeper into debts.” he added.

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Source: theGhanaianVoice.Com



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JB Danquah Wanted To Name The Newly Independent Gold Coast ‘Akan Land’ – Kwesi Pratt Jnr

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Managing editor of the Insight Newspaper, Kwesi Pratt Jnr, has debunked claims by adherents of the Danquah-Busia tradition that Joseph Boakye (JB) Danquah suggested the name ‘Ghana’ to be given to the newly independent Gold Coast Colony.

Speaking on his television station, Pan African TV, Kwesi Pratt said J.B Danquah actually wanted to name the country ‘Akan Land’!

“The name J.B. Danquah suggested for the Gold Coast was Akan Land. Can you imagine that we were struggling for independence one of the people said after independence, we should call this place Akan Land?” he said.

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Pratt said the name ‘Ghana’ was suggested by a priest and historian who made the connection between the historical Ghana empire and the Gold Coast.

He also added that whilst the Danquah-led faction wanted a fragmented nation, Kwame Nkrumah was the one who fought for a united nation and even brought in Transvolta Togoland.

“There is this argument that he [J.B Danquah] is the one who actually suggested the name Ghana, it is not true. The historical record is there and clear. Lord Lugard and his wife, even before then there was a priest who had traced the link between the Gold Coast and the new Ghanaian empire. The record is there and clear.

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“The name J.B. Danquah suggested for the Gold Coast was Akan Land…The referendum which led to the inclusion of British Togoland, the campaign was led by Osagyefo Dr. Kwame Nkrumah. There is no dispute about it. Ghana has always not been like this. Something went into bringing Trans-Volta Togoland, consolidating Ashanti space in Ghana, and bringing the Northern Territory to Ghana. What did J.B. Danquah do to bring Trans-Volta Togoland to Ghana? What did he do?” he queried.

The journalist called for the claims that J.B Danquah was the founder of Ghana to be set aside and Osagyefo Dr. Kwame Nkrumah recognised as Ghana’s true founder.

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Source: theGhanaianVoice.Com



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Speaker of Parliament, Alban Bagbin Quits Ghana Bar Association -Wild Details Drop

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Speaker of Parliament, Alban Bagbin Quits Ghana Bar Association -Wild Details Drop

Speaker of Parliament, Rt Hon. Alban Sumana Kingsford Bagbin has withdrawn his membership from the Ghana Bar Association (GBA).

Mr Bagbin said the conduct of the renowned lawyers association is problematic and people are worried about its position on matters of national interest.

The Speaker of Parliament made this revelation when a delegation from a newly created association of lawyers: the Law Society of Ghana (LSG) paid a courtesy call to him at his office.

The LSG delegation which was led by its Acting President and MP for South Dayi, Hon. Rockson-Nelson Dafeamekpor, was at the Speaker’s office to congratulate him on his new position as the President of the Commonwealth Leaders Association.

They used the opportunity to inform the Speaker about the inception of LSG and its contribution to nation-building.

The LSG is an association for lawyers and law students who seek to shape national discourse and fight against injustice in all forms.

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To Mr Dafeamekpor, the group has realized that the GBA has deviated from its core mandate in terms of fairness and inclusiveness.

He also observed that the GBA has sidelined some of its members and added that a lot of things done by the association are discharged with partisan colours.

The primary aim of LSG, Dafeamekpor stressed, is to cater for “the welfare of lawyers” and “push for reforms in the Ghana Legal system, for instance the Judicial System control on the training of legal professionals.”

As part of LSG structures, the MP said, there is the intention to affiliate with a lot of globally recognized Lawyer Associations such as the West African lawyers Association, Pan African Lawyers Association, African Lawyers Association, and Commonwealth lawyers amongst others.

Speaker’s Concerns About GBA

Reacting to the vision of the LSG, Speaker Bagbin stated the Society is good for the country as it is going to throw a global light on Ghana, especially with the global affiliations.

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To him, a lot of people were worried at the state of GBA and their actions.

” I am no longer a member of GBA,” he disclosed and explained that he did not seem to benefit from the association.

Speaker Bagbin said the GBA has now become an association of elites, stressing that he used to pay his dues “religiously” but got to know that any lawyer that attended the public tribunal was not recognized and thus his interest in GBA diminished.

“I will support the LSG wholeheartedly and with the right opportunities irrespective of the numbers of members so long as we are focused and committed, we can make tremendous waves,” he assured.

Speaker Bagbin said Ghanaians have the brain power to capitalize on “for our benefit” hence “the quest for value and what is right always takes us to places and I believe LSG will be one of the pillars of such a culture to take us to places as a country.”

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He also advised LSG to come up with reasoned opinions and critique law reports and publish them in journals.

Source: www.GhanaCNN.com

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I Am No Longer A Member Of “Unbeneficial” GBA – Speaker Bagbin

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Speaker of Parliament, Rt Hon. Alban Sumana Kingsford Bagbin has withdrawn his membership from the Ghana Bar Association (GBA).

Mr Bagbin said the conduct of the lawyers association is problematic and people are worried about its position on matters of national interest.

The Speaker of Parliament made this revelation when a delegation from a newly formed association of lawyers: the Law Society of Ghana (LSG) paid a courtesy call to him at his office.

The LSG delegation which was led by its Acting President and MP for South Dayi, Hon. Rockson-Nelson Dafeamekpor, was at the Speaker’s office to congratulate him on his new position as the President of the Commonwealth Leaders Association.

They used the opportunity to inform the Speaker about the inception of LSG and its contribution to nation building.

The LSG is an association for lawyers and law students who seek to shape national discourse and fight against injustice in all forms.

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To Mr Dafeamekpor, the group has realized that the GBA has deviated from its core mandate in terms of fairness and inclusiveness.

He also observed that the GBA has sidelined some of its members and added that a lot of things done by the association are discharged with partisan colours.

The primary aim of LSG, Dafeamekpor stressed, is to cater for “the welfare of lawyers” and “push for reforms in the Ghana Legal system, for instance the Judicial System control on the training of legal professionals.”

As part of LSG structures, the MP said, there is the intention to affiliate with a lot of Global recognized Lawyer Associations such as the West African lawyers Association, Pan African Lawyers Association, African Lawyers Association, Commonwealth lawyers amongst others.

Speaker’s Concerns About GBA

Reacting to the vision of the LSG, Speaker Bagbin stated the Society is good for the country as it is going to throw a global light on Ghana especially with the global affiliations.

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To him, a lot of people are worried at the state of GBA and its actions.

” I am no longer a member of GBA,” he disclosed and explained that he did not seem to benefit from the association.

Speaker Bagbin said the GBA has now become an association of elites, stressing that he used to pay his dues “religiously” but got to know that any lawyer that attended the public tribunal was not recognized and thus his interest in GBA diminished.

“I will support the LSG wholeheartedly and with the right opportunities irrespective of the numbers of members so long as we are focused and committed, we can make tremendous waves,” he assured.

Speaker Bagbin said Ghanaians have the brain power to capitalize on “for our benefit” hence “the quest for value and what is right to always take us to places and I believe LSG will be one of the pillars of such a culture to take us to places as a country.”

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He also advised LSG to come up with reasoned opinions and critique law reports and publish them in journals.

SOURCE theghanaianvoice



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