Remarks by K. Y. Amoako at an ACET-organized Public Lecture by Joseph Stiglitz in Accra, Ghana

Thank you very much Mrs. Mary Chinery-Hesse for your very generous introduction. This is the second time in the short period that I have been back home that I have the honor of being introduced by you with so much generosity and in this same room. Either I find an opportunity to return the favor soon or I should go into hiding for a long time to spare you from having to introduce me for the third time.

Before I turn to my main task this evening of introducing our very distinguished guest, Prof. Joseph E. Stiglitz I will take a few minutes to introduce to you the African Center for Economic Transformation – ACET.

I established ACET here in Accra as an institution to provide high-quality policy analysis and advisory services to African governments. Our goal is to assist government with the objective of achieving long-term growth and transformation of African economies.

What do I mean by transformation of African economies? In very plain terms Prof. Stiglitz once said that “development means transformation”. For most African countries, it means working to change the structure, organization and management of our economy that leads to accelerated, and inclusive economic growth. It means among other things providing our people with decent jobs, adequate health services, water and sanitation and access to high-quality education. And it means ensuring that our economies can withstand or adapt to external factors and take advantage of the opportunities offered by international trade and investments to improve our productivity and to spur further our growth.

It is my conviction that we can achieve these objectives if we harness the talents and expertise of our people to design our policies and development strategies in a way that takes into account our social, political and institutional realities. Such an approach will be a hallmark of ACET’s operational activities. We will draw upon the skills and experience of outstanding African professionals on the continent and in the Diaspora to address our development challenges.

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