Development Partners say to support Ghana’s “Beyond Aid” drive with investment and trade

April 10, 2018
Ghana’s Development Partners (DPs) are of the view that the country’s transition from Aid to Trade will take a gradual process and more trade and investment support to succeed, Caecilia Wijgers Deputy Ambassador for the Netherlands in Ghana stated here on Thursday.

In an interview with Xinhua after the closing session of the two-day Conference of partners in the G-20 Compact With Africa (CWA) the Deputy Ambassador added that there were already development partners working with the Ghanaian authorities in how to make its systems more efficient and create the enabling environment for more effective trade and investment.

“The transition of going from Aid-the classical development assistance, towards trade will go gradually. And also do not forget, by bringing more investment into the country other processes will work and these processes will be more sustainable than aid through grants,” she argued.

The deputy ambassador added that some different policies that were also coming in slowly from development partners will contribute to more sustainable economic growth in Ghana.“

According to her, for Ghana and the other partnering countries to increase their revenue mobilization under the “Moving Beyond Aid” agenda then the systems must be efficient which also requires certain specific measures.

So the Netherlands works internationally with Ghana on that and also with the Ghana Revenue Authority (GRA) and some municipalities. So all have to do with making the systems more efficient; and also to have a close loop with citizens who have to know where thtax eir money goes to, added the deputy Ambassador.

The conference which saw 11 African Compact partners as well as officials from Multilateral and bilateral development partners attending was on the theme: “Moving Beyond Aid-Revenue Mobilization” and was jointly organized by the International Monetary Fund (IMF) African Center for Economic Transformation (ACET) and the Development Partners.

“For us as Development Partners we have seen that the agenda of raising revenue nationally has become more concrete. I am pleased to say that our cooperation with Ghana has been aligned over a long time along the same agenda

“There are many Development partners here working already with the Ghanaians to strengthen the tax system. One of the things is capacity building with the GRA and also with Customs where professional Customs officials come from other countries to help them on the job,” she disclosed.

Ghana’s Revenue to Gross Domestic Product (GDP) ratio has fallen below 17 percent while at the same time public debt has reached nearly 70 percent of GDP.

Ken Ofori-Atta, Ghana’s Minister for Finance noted that with domestic revenue mobilization crucial for achieving the Sustainable Development Goals (SDGs), designing and implementing a Medium-term revenue strategy as a framework for tax system reform increases the likelihood of success.

“Ghana is determined to move beyond aid. I see a lot of obligations and enthusiasm among the international bodies and the country as a whole in the willingness to move beyond aid and embrace an era of more domestic resource mobilization. As a Government we are determined to keep this drive in a sustainable way to achieve our aspirations,” Ofori-Atta stated.

Source: News Ghana

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