Tag Archives: Ghana

Pranab Mukherjee for an “updated narrative of India-Ghana relations”

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President Pranab Mukherjee visiting the Kwame Nkrumah Mausoleum, in Accra on June 13, 2016
President Pranab Mukherjee visiting the Kwame Nkrumah Mausoleum, in Accra on June 13, 2016

Accra: President of India Pranab Mukherjee has stressed on the need for a paradigm shift in the way India and Ghana conduct their relations.

The President was addressing the students and faculty of University of Ghana here on Monday (June 13, 2016). He said that both countries should further build on the foundation of mutual goodwill.

Mukherjee said: “We need to define a new positive and create a brighter, innovative and updated narrative of India-Ghana relations. He was confident that the youth of both countries would fit in seamlessly into this renewed and revised model of cooperation. By duly making them stakeholders, we will succeed in reinvigorating our partnership and taking it to a new level.

The President said education is like a lamp, brightly-lit, which should show the way and enlighten many more lives. He called upon the youth of Ghana to employ their learning and knowledge in the service of their society and their nation. He said that he was confident that the coming generations of this great nation, the inheritors of the legacy of the great Dr. Kwame Nkrumah, have the credentials to make their Nation proud.

The President said every year 250 Ghanaian government and semi-government officials receive training in India while about 20 students pursue full-time under-graduate, Masters and Ph.D. programmes on scholarships. He announced that having recognized Ghana’s immense human resource potential, the Government of India has decided to increase seat allocations for Ghana to 300 ITEC slots and increase the number of annual scholarships under other Indian schemes to forty.

Mukherjee said India calls upon students and the faculty of this great university and others to take full advantage of the scholarships and training opportunities announced by India at the India Africa Forum Summit last year. The capacity building dimension of India-Africa relations has been vastly expanded to include research in various fields such as agriculture, bio-technology and other subjects of relevance to their country.

50 countries do not meet fiscal transparency requirements: US Report

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Department of StateThe US department of State has concluded that, of the 140 governments that were potential beneficiaries of foreign assistance and were evaluated 50 did not meet the minimum requirements of fiscal transparency. Of these, eleven governments made significant progress toward meeting the minimum requirements of fiscal transparency.

On January 14, US Secretary of State John Kerry released the FY 2014 Fiscal Transparency Report, assessing whether governments that receive U.S. assistance meet minimum requirements of fiscal transparency. The Department’s assessments evaluate the substantial completeness, reliability, and public availability of budget documents, as well as the transparency of natural resource extraction contracting and license procedures.

The Report is prepared under Section 7031(b) of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2014. The Report examines governments receiving bilateral allocations of assistance under the Act. In compiling the Report, the Department assessed the fiscal transparency of governments as of the date the Act became law.

Governments meeting fiscal transparency requirements

The Department assessed the following governments as meeting the minimum requirements of fiscal transparency for FY 2014: Albania, Angola, Armenia, Argentina, The Bahamas, Belize, Benin, Bosnia and Herzegovina, Botswana, Brazil, Bulgaria, Cabo Verde, Chile, Colombia, Costa Rica, Cote d’Ivoire, Croatia, Czech Republic, Djibouti, Ecuador, El Salvador, Estonia, Georgia, Ghana, Greece, Guatemala, Guyana, Honduras, Hungary, India, Indonesia, Iraq, Israel, Jamaica, Jordan, Kenya, Kosovo, Kyrgyzstan, Latvia, Lesotho, Liberia, Lithuania, Macedonia, Malaysia, Mali, Malta, Marshall Islands, Mauritania, Mauritius, Mexico, Micronesia, Moldova, Mongolia, Montenegro, Morocco, Mozambique, Namibia, Nepal, Pakistan, Palestinian Authority, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Poland, Portugal, Romania, Rwanda, Samoa, Senegal, Serbia, Seychelles, Sierra Leone, Singapore, Slovakia, Slovenia, South Africa, Sri Lanka, Thailand, Timor-Leste, Togo, Tonga, Trinidad and Tobago, Tunisia, Turkey, Uganda, Uruguay, Vietnam, and Zambia.

The following table lists those governments that were found not to meet the minimum requirements of fiscal transparency and identifies whether the governments made significant progress toward meeting those requirements:

Governments Assessed Pursuant to the Act as not Meeting Minimum Requirements of Fiscal Transparency for FY 2014

Significant Progress

No Significant Progress

Afghanistan

X

Algeria

X

Azerbaijan

X

Bahrain

X

Bangladesh

X

Burkina Faso

X

Burma

X

Burundi

X

Cambodia

X

Cameroon

X

Central African Republic

X

Chad

X

China

X

Comoros

X

Congo, Democratic Republic of the

X

Congo, Republic of the

X

Dominican Republic

X

Egypt

X

Ethiopia

X

Fiji

X

Gabon

X

Gambia, The

X

Guinea

X

Guinea-Bissau

X

Haiti

X

Kazakhstan

X

Laos

X

Lebanon

X

Libya

X

Madagascar

X

Malawi

X

Maldives

X

Nicaragua

X

Niger

X

Nigeria

X

Oman

X

Sao Tome and Principe

X

Saudi Arabia

X

Somalia

X

South Sudan

X

Sudan

X

Suriname

X

Swaziland

X

Tajikistan

X

Tanzania

X

Turkmenistan

X

Ukraine

X

Uzbekistan

X

Yemen

X

Zimbabwe

X

US views fiscal transparency as a critical element of effective public financial management since it helps in building market confidence, and sets the stage for economic sustainability. Transparency also provides a window into government budgets for citizens of any country, helping them to hold their leadership accountable. Reviews of the fiscal transparency of governments that receive U.S. assistance help to ensure that U.S. taxpayer money is used appropriately and sustain a dialogue with governments to improve their fiscal performance, leading to greater macroeconomic stability and better development outcomes, the US department of State goes on to emphasise.

The Office of Monetary Affairs (OMA) monitors global macroeconomic developments and works to prevent and resolve financial crises in countries where U.S. interests are at risk. It seeks to increase the financial security of the United States and its key partners. OMA also works to expand global economic growth and development by advocating sound macroeconomic policies that foster economic stability and expand opportunities for U.S. trade and investment worldwide.

OMA provides the Secretary of State with expertise on global financial and macroeconomic issues, working in close cooperation with the Treasury Department’s Office of International Affairs. OMA is also the Department’s liaison with the International Monetary Fund (IMF). In addition, OMA interacts with a wide range of foreign government officials and representatives of other international and non-governmental organizations. It also consults with representatives of private financial institutions to ensure that U.S. financial interests abroad are accurately and effectively reflected in U.S. foreign economic policy.

To help poorer countries overcome unsustainable debt burdens and improve their chances for economic growth and development, OMA promotes debt relief through the Paris Club, representing the Secretary of State as Head of the U.S. delegation. The Paris Club is the forum for coordinating debt relief policy among sovereign creditors and negotiating individual country debt treatments. Paris Club agreements can also affect non-member country and private sector creditors when debtor countries are required to seek comparable treatment. OMA also coordinates with the Treasury Department to formulate U.S. debt-relief policies more broadly and to promote initiatives through multilateral institutions.

OMA develops strategies to fight corruption and improve transparency from an economic and business perspective. OMA heads the U.S. delegation to the OECD Working Group on Bribery in International Business Transactions, coordinates the interagency to combat bribery of foreign public officials, and ensures compliance with the Convention on Combating Bribery of Foreign Public Officials in Internationals in International Business Transactions, also known as the Anti-Bribery Convention.

Click Here for Government by Government Assessment (Fiscal Transparency Report)