President on 3-nation working visit
President Nana Addo Dankwa Akufo-Addo will leave the country on Sunday (May 16) for a three-nation official working visit to France, Belgium and South Africa.
The visits, which would take the President away for nine days, are part of the efforts by the President to re-engage with the rest of the world, following the onset of the COVID-19 pandemic, and highlight the country, once again, as one that has an impressive business-friendly atmosphere, with bright economic prospects for the future.
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Paris
A statement issued by the Presidency yesterday stated that the President would first attend a summit on Financing African Economies which was being convened by the French President, Mr Emmanuel Macron, on May 18, 2021 in Paris.
“The Summit, which will bring together several African and European leaders, and heads of international financial institutions, will devise strategies that will boost strong, inclusive recovery in Africa, grounded in a dynamic private sector, help foster sustainable progress and prosperity, and accelerate the green and digital transition in line with the 2030 UN Sustainable Development Goals and the Paris Agreement on Climate Change,” the statement said.
In addition, the summit will help foster sustainable progress and prosperity, and accelerate the green and digital transition in line with the 2030 UN Sustainable Development Goals and the Paris Agreement on Climate Change.
Impact
The statement mentioned the devastating effects COVID-19 had had on the economies of all countries in the world, with Africa being the hardest hit – having been in a recession last year.
“It is estimated that economic recovery growth rate of 3.7 per cent for 2021 will be below the global economic recovery rate of 5.5 per cent.
“This, according to many economic and financial experts, could worsen even further the problems of poverty and inequality for many Africans, a situation which leaders on the continent are keen to avoid,” the Presidency stated in the statement.
Package
The statement said it was expected that a financial package would be devised to enable African countries to overcome the economic impact of the COVID-19 crisis.
Participants in the summit, the statement indicated, were expected to agree on critical pro-growth reforms that were needed to enhance the private sector in Africa, and tap its growth potential with the help of local and international financial support.
These will include risk-sharing instruments dedicated to African entrepreneurs and SMEs, as well as appropriate technical assistance. The summit will further agree on key common rules and enforcement mechanisms that will contribute to securing strong, sustainable growth in Africa.
Bilateral
On France, the statement said while in Paris, President Akufo-Addo was scheduled to have bilateral discussions with the President of the World Bank and the Managing Director of the IMF, both of whom would be attending the summit.
Belgium
The statement stated that President Akufo-Addo would from May 19, 2021, at the invitation of the President of the European Council, Mr M. Charles Michel, be in Brussels, Belgium, to hold bilateral talks with the President and officials of the European Council.
The President would also meet with stakeholders committed to the partnership between Ghana and the European Union.
Explaining, the statement said the talks between the President and President Michel were expected to centre on regional security, as well as on sustainability issues in the cocoa and fisheries sectors of Ghana, and their impact on relations between Ghana and the European Union.
160 million Euros
Still in Belgium, President Akufo-Addo will meet with the President of the European Investment Bank (EIB), Dr Werner Hoyer, and participate in the ceremony for the signing of a 160 million Euro facility between the EIB and the Ministry of Finance, towards the establishment of the National Development Bank.
The statement said President Akufo-Addo would attend an investor conference in Brussels on Ghana and also hold a meeting with Ms Jutta Urpilainen, the EU Commissioner on International Co-operation, to discuss issues relating to the COVAX Facility, which was currently supplying COVID-19 vaccines to the country.
South Africa
President Akufo-Addo on the last leg of the tour will address the Fourth Ordinary Session of the Fifth Parliament of the Pan-African Parliament (PAP), scheduled to take place on Monday, May, 24 in Johannesburg, South Africa.
This is at the invitation of the Speaker of the Parliament and deliberations of the Session will be guided by the African Union (AU) theme for 2021: “Year of the Arts, Culture and Heritage: Levers for Building the Africa We Want.’’
President Akufo-Addo will be accompanied by the Minister of Foreign Affairs, Ms Shirley Ayorkor Botchway; the Minister of Finance, Mr Ken Ofori-Atta and officials of the Presidency and the Foreign and Finance ministries.
He will be joined in Brussels by the Minister of Fisheries and Aquaculture Development, Ms Hawa Koomson; the Minister of Food and Agriculture, Dr Owusu Afriyie Akoto, and the Chief Executive Officer of COCOBOD, Mr Joseph Boahen Aidoo.
The President is expected to return to Ghana on Tuesday, May 25.