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Staff from the Development Research Department of the Chief Economist Complex (ECON) and the Ghana Field Office launched the 2009 African Economic Outlook (AEO) Friday 26 June 2009. The event took place in Accra, under the auspices of Professor Newman Kusi, Ag. Director of Budget of the Finance Ministry, who represented the Hon. Minister for Finance & Economic Planning, Dr. Kwabena Duffuor.
In his opening remarks, Professor Newman acknowledged the valuable role that the data and information from AEO can play in Ghana’s policy processes, especially in the face of the looming crisis, and in informing policymakers, investors, researchers and development practitioners in their search for sustainable solutions to implementing Ghana’s development agenda.
The event was chaired AfDB Resident Representative Mr. Alieu Jeng, who made a statement on behalf on the Bank. Other dignitaries at the meeting included Mr. Guy Samzun, Ag. Head of the European Union Commission Delegation in Ghana, as well as representatives of the USAID, the IMF, UNESCO, the West African Monetary Institute, and various other institutions.
AfDB Manager Abdul B. Kamara pointed out in his presentation that the remarkable achievement of Ghana in political and social stability bodes well for Ghana’s economic development in the near future.
He also emphasized that this, together with prudent management of the large growth prospects accruing from potential oil exports commencing in 2010, is crucial for better positioning Ghana not only to overcome the shocks stemming from the crisis but also to make the most of opportunities emerging from the global financial crisis.
He underscored that in spite of the laudable achievements recorded by Ghana’s economy, challenges still remain in getting people out of poverty by sharing the benefits of the recent economic growth.