World Bank (Washington, DC)
Obiageli Ezekwesili
14 April 2009
opinion
Less than a year ago, there was a sense of optimism in many African countries. Growth rates in Sub-Saharan Africa were comparable to Asia, hovering around 6 percent, a result of high commodity prices, a favorable global environment -- and also of improved economic management, investment climate, private flows and governance. But an unprecedented global crisis now threatens these gains, as most countries in Africa are beginning to feel the full brunt of the recession. Growth in the region is projected to plummet to 2.4 percent in 2009, resulting in increased poverty and infant mortality and in rapidly deteriorating budget situations.
This is particularly the case for commodity-rich countries which had benefited from the rapid increase in revenues over the preceding years. Those revenues had led to growth in many African countries. But as a result of the financial crisis, the drop in diamond prices in Botswana has caused the major operator of diamond mines to suspend operations. In Zambia, where the price of copper had almost doubled over the last three years, reaching $9000 in 2008, prices have now fallen to less than $4000 in the past few months. Copper mines in the Democratic Republic of Congo have been similarly affected, as have oil prices in Gabon. The current crisis translates into budget strains, a slowdown in foreign investment, an increase in unemployment, and deterioration of human development indicators.
In times of high commodity prices, good management of oil and mining revenues had the potential to be a springboard for development. With a far less hospitable global environment, it becomes even more urgent for governments to make judicious use of their available resources, and to take the structural and institutional measures that will ensure that future booms – which will undoubtedly occur again – are harnessed to fight poverty and improve the lives of citizens.
How can governments make sure that resource revenues are well used?
Some 28 African governments have adopted the Extractive Industries Transparency Initiative (EITI), with the aim of improving governance through the verification and full publication of company payments and government revenues from oil, gas and mining. In addition, 37 oil, gas and mining companies have agreed to support the initiative, as have institutional investors managing assets amounting, before the financial crisis, to more than $14 trillion.
Joining the EITI is a first step, and one that sends a strong signal of government's commitment to transparency. Going further, if citizens are to reap the benefits from mining revenues, transparency is needed throughout the entire resource stream, from how contracts are awarded and monitored, to how taxes and royalties are collected, to how investment choices are made and executed. This is referred to as the "EITI ++" approach, which focuses on the better management of the entire resource chain that links commodity revenues to results for citizens. The international community, including the World Bank, can support countries in improving management of the commodity resource stream, and civil society will have a key role in this endeavour.
Several countries are now focusing on that resource chain. Niger and Liberia have approached their partners for technical legal assistance on awarding contracts. In Mozambique and Tanzania, analytical work is helping to foster a dialogue on public expenditure management and financial accountability in the context of rising revenues from mineral extraction. Some countries request support in such areas as auctioning of licenses and contract negotiations with major investors, management of volatile commodity-related revenues, or in improving the composition and quality of public investments.
As the crisis illustrates, commodity rich countries also need to prepare for a time when oil and mining resources might be depleted, by diversifying their sources of growth. Diversification is not a simple task; it requires major policy shifts and significant investments of resources in institutions, human capacities, health, education and infrastructure. For example, many countries with mining resources have untapped agriculture potential. The agriculture sector has accounted for one-third of Africa's GDP growth over the last 15 years, and with the right kinds of support, including improved water and land management, rural roads and a better policy environment, productivity and value added could increase significantly, making the sector a much stronger contributor to economic growth and poverty reduction, mitigating risk of over-dependency on mineral resources.
Taken together, these reform and diversification efforts can add up to a transformation of national economies. They can ensure that the highest development impact is extracted at times of low commodity prices from the resources earned, and they can also lay the foundation for broad-based economic growth when the high prices return. By developing other sources of growth, countries can mitigate the impact of shocks such as the dramatic decline in commodity prices in 2008.
This time around, resource-rich African countries can chart a path decidedly different from previous boom and burst cycles that have led to the paradox of pernicious poverty in the midst of resource abundance. This moment of crisis is an opportunity for economic transformation, and challenges leaders and citizens with the "urgency of now." It can be done!
Obiageli Ezekwesili is the World Bank's Vice President for Africa.
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GHANA WOMEN LOSE THEIR FARMS TO BIOFUEL PRODUCTION
Here is some information that may help you FREE thinkers to put some information together like we do with puzzles .
1) HERE’S A LINK TO SOME HISTORICAL EVIDENCE AS TO WHY SO MANY ARE INTERESTED IN BLACK AFRICA : * [http://www.moreorless.au.com/killers/leopold.html?q=printme] * 16 European Nations Met And Plotted On How They Would Rob Africa Of Its Riches. * They met during two(2) Periods of time in two(2) places * The General Act Of Berlin Conference (Nov, 1884 to February, 1885) * Brussels Belgium to finalize SECRET agreements ( Nov, 1889 to July 1890)
2) The Book “King Leopold’s Ghost (1998) by Adam Hochschild documents some of This information.
3) GHANA is the opening act and the STAR that God is raising to show the world what the scripture “ Righteousness Exalts A Nation “ means .
4) Because of this honored position, GHANA is also being targeted by THE WHORE OF BABYLON .
5) GHANAIANS have been a nation that has been busy and productive with their hands ; while also believing that GOD IS.
6) Therefore THE WHORE OF BABYLON is trying to entice GHANA with her glitter & sparkle of substance . Her use of the airwaves ; assisted by “The Prince (D-Evil) of the power of the Airwaves “ (The Media) is a major weapon of deceit THE WHORE uses .
7) The GRASS ISN’T GREENER …OVER THERE ….There is no Grass or production over there. GHANA and Africa are actually among the RICHEST NATIONS ON EARTH !
8) Why else did King Leoepold ‘s Belgium and 15 other nations SECRETLY CONSPIRE against Black Africa ?
9) GHANA , THE BLACK STAR , with Our great World leader President Kwame Nkrumah was interfered with by the same forces that set up Judas Mobutu in King Leopold’s Congo; after killing the great Patrice Lumumba.
10) President Kwame Nkrumah had first class plans for GHANA . Because of this he was overthrown.
11) Since that time GHANA has been one of many so-called Third World Countries that have been manipulated by THE ROBBERS (See Daniel 11:14) .
12) THE CONCEPT OF MONEY is the major weapon that THE ROBBERS are and have been using to control so-called Third World Countries .
13) This use of so-called Money would not work against us if not for SPIRITUAL WICKEDNESS in High Places ; namely some corruptible leaders who allow THE ROBBERS to do what they do.
14) Here are some revealing Money-Related links : *[http://www.youtube.com/results?search_type=&search_query=The+Comprehensiv e+Annual+Financial+Report+Exposed+]
* [http://cafr1.com/]
* There are two(2) sets of books one (1) with the phony balance and another with the real balance. Don’t look at the BUDGET..Look at the TOTAL MONEY Balance.
* THE TRUTH ABOUT DIAMONDS - [http://janineroberts.org/]
* Bakken OIL Field Find - Suppression of The World’s Riches. [http://ixquick.com/do/metasearch.pl?query=Bakken+Oil+Field+Find&cat=web&pl =ff&language=english]
* Minister Lindsey Williams on the conspiracy of THE OIL ROBBERS
*[http://www.youtube.com/results?search_type=&search_query=Lindsey+Williams +&aq=f]
15) In the 1970s America’s farmers made the mistake of taking welfare (subsidies, loans, etc..) from their BANKERS .
16) Now only a few farmers are left. Americans rarely grow their own food.
17) Africans can learn from the mistakes of others. Develop local coops between growers, sellers and buyers.
18) DON’T FOLLOW LEADERS WHO REFUSE TO FOLLOW GOD.
19) It’s not just their WORDS, it’s also their ACTIONS. A TREE IS KNOWN BY ITS FRUIT.
20) Remember Nimrod and THE TOWER OF BABEL. God was against it then and God doesn’t change his mind.
21) Any movements that are trying to bring Man together without GOD is another attempt at re-building THE TOWER OF BABEL .
22) BEWARE OF THE GOD-LESS GLOBAL ORGANIZATIONS . They may do great things, but if they don’t have God’s love, it’s a waste of time (1st Corinthians 13 ) .
23) BY PEACE SHALL Many Be deceived (Daniel 8:25) .DOES THE TERM PEACEKEEPERS ring a Bell ?
24) Develop LOCAL COOPS between GROWER, SELLERS and BUYERS .
25) WE BLACK AFRICANS HAVE & CAN BE SELF-SUFFICIENT .
26) SOME BLACK INVENTORS AND THEIR AMAZING INVENTIONS .
* Sarah Boone - IRONING BOARD - April 26, 1892
* John A. Burr - LAWN MOWER
* Marie V. Brittan Brown - HOME SECURITY SYSTEM - Dec 2, 1969
* Buridge & Marshman - TYPEWRITER
* George Carruthers - X-RAY MACHINE
* George Washington Carver - PEANUT BUTTER - PAINTS – PAINT STAINS – ETC
* John Clark - TRACK ATHLETE TRAINER
* W.A. Dietz - SHOE
* Joseph Dickinson - PLAYER PIANO - ARM FOR RECORD PLAYER
* P.B. Downing - POSTAL LETTER BOX
* Charles R. Drew - BLOOD PLASMA STORAGE SYSTEM
* T. Elkins - TOILET (COMMODE)
* Robert Flemming Jr. - GUITAR
* Cathleen McCoy Garrett SIREN - HORN LIGHT INDICATOR
* George F. Grant - GOLF TEE
* J. Gregory - MOTOR
* Joanna Hardin - KEYBOARD STAND - Feb 23, 1993
* Michael Harney - LANTERN
* Solomon Harper - THERMO(HEATED) HAIR CURLERS
* Augustus Jackson - ICE CREAM
* B.F. Jackson - GAS BURNER
* H.A. Jackson - KITCHEN TABLE
* Ruane Jeter - DIGITAL TOASTER - April 14, 1987
* Isaac R. Johnson - BICYCLE FRAME
* John A. Johnson - WRENCH
* Lonnie Johnson - SUPER SOAKER WATERGUN
* P. Johnson - EYE PROTECTOR (GOGGLES)
* W. Johnson - EGG BEATER
* Frederick M. Jones - DEFROSTER - REFRIGERATION CONTROLS – AIR CONDITIONER
* Jones & Long - BOTTLE CAPS
* John H. Jordan - CLOTHES DRESSER
* Mary B. Kenner - SANITARY BELT (TAMPONS) - May 15, 1956
* Mary B. Kenner - SANITARY BELT (WATERPROOF) - April 14, 1959
* Mary B. Kenner - BATHROOM TISSUE HOLDER - Nov 19, 1982
* Mary B. Kenner - BACKWASHER ( BATHTUB OR SHOWER MOUNTED) - July 29,1987
* Lewis Latimer & Nichols - ELECTIC LAMP
* W.A. Lavalette - PRINTING PRESS
* F.W. Leslie - ENVELOPE SEAL
* Maurice W. Lee PRESSURE COOKER
* A.L. Lewis - WINDOW CLEANER
* John L. Love - PENCIL SHARPENER
* Tony J. Marshall - FIRE EXTINGUISHER
* Alexander Miles - ELEVATOR
* Jan E. Matzeliger - SHOE LASTING MACHINE
* W.A. Martin - LOCK
* Garrett A. Morgan - GAS MASK - Traffic Signal
* Lydia Newman - HAIR BRUSH - Nov 15, 1898
* Alice H. Parker - HEATING FURNACE - Dec 23, 1919
* J.F. Pickering - AIR SHIP (BLIMP)
* Purdy & Sadgwar - FOLDING CHAIR
* W.B. Purvis - FOUNTAIN PEN
* L.P. Ray - DUST PAN
* W.H. Richardson - BABY BUGGY
* Walter Sammons - PRESSING COMB
* G.T. Sampson - CLOTHES DRYER
* Dewey Sanderson - URINALYSIS MACHINE
* Ralph Sanderson - HYDRAULIC SHOCK ABSORBER
* S.R. Scottron - CURTAIN ROD
* Adolph Shamms - MULTI -STAGE ROCKET
* .W. Smith - LAWN SPRINKLER
* Richard B. Spikes - AUTOMATIC GEAR SHIFT
* J. Standard - REFRIGERATOR
* T.W. Stewart - MOP
* Maxine Snowden - RAIN HAT - 1983
* Theora Stephens - PRESSING & CURLING IRON
* Rufus J. Weaver - STAIR -CLIMBING WHEELCHAIR
* Paul E. Williams - HELICOPTER
* J.B. Winters - FIRE ESCAPE LADDER
* Granville T. Woods - Telephone System Apparatus Oct 11, 1887 – Patent # 371, 241
* Granville T. Woods - Roller Coaster
* Granville T. Woods - Auto Air Brake - June 10, 1902 - Patent # 701, 98
* Granville T. Woods - Telegraph Transmission Devices - Dec 2, 1884 Patents # - 308, 816 (7)
* Thanks to The Black Inventors Museum *
* Address : P.O. Box 76128 - Los Angeles , Calif. (90076)
* Phone (310) 859-4602)
* Director : Ghanaian Mr. Hamza Salifa
* Major Contributor of Information : SEESTAH Imahkus Nzinga Okofo
[This inspiring poem was featuring in the movie “Coach Carter ”]
Our Deepest Fear Is Not That We Are Inadequate, Our Deepest Fear Is That We Are Powerful Beyond Measure. It Is Our Light , Not Our Darkness That Most Frightens Us.
We Ask Ourselves, Who Am I To Be Brilliant, Gorgeous, Talented, And Fabulous ?
Actually Who Are We Not To Be ? You Are A Child Of God.
Your Playing Small Doesn’t Serve The World.
There Is Nothing Enlightened About Shrinking So That Other People Won’t Feel Insecure Around You.
We Are All Meant To Shine, As Children Do.
We Were Born To Make Manifest The Glory Of God That Is Within Us.
It’s Not Just In Some Of Us; It’s In Everyone.
And When We Let Our Own Light Shine We Unconsciously Give Other People Permission To Do The Same.
And As We Are Liberated From Our Own Fear, Our Presence Automatically Liberates Others
- Marianne Williamson -
[NOTE – BEING AFRAID AND REFUSING TO GET INVOLVED WON’T STOP US FROM DYING. BUT BEING AFRAID CAN PREVENT US FROM LIVING]
(Nkosi Sikeleli Africa )
God bless Africa May her glory be lifted high Hear our petitions .
God bless us, Your children God we ask You to protect our nation Intervene and end all conflicts Protect us, protect our nation, our nation.
From the blue of our heaven, From the depths of our sea, Over our eternal mountain ranges, Where the cliffs give answer.
Sounds the call to come together, And united we shall stand, Let us live and strive for freedom, In South Africa our land.
[Enoch Mankayi Sontonga]
WAKE UP !!! STAY UP !!!
[http://www.infowars.com/infowars.asx] / [gcnlive.com] Life Is A Game. Have Fun . Luke 18:17 - Isaiah 11:6
Headlines : 1) Ghana: No Immediate Returns From Oil Find 2) West Africa: 'Recession Won't Affect Trans-Sahara Gas Pipeline'
The Bakken Oil Field Find , 55 gallon drums fulls of unprocessed diamonds, these are just a few of the suppressed world riches this beautiful world created by God (Jehovah, Father of Jesus Christ).. Lindsey Williams has known for 30 years of a major oil find in Alaska. He says that he sat in on meetings of the rich and powerful. These men decided not to use this oil to help America. Beware Africans, the wolves of deception are always around riches. Hosea said we perish for two reasons. Most people only remember one reason why we perish. Hosea said MY PEOPLE PERISH FOR LACK OF KNOWLEDGE………AND…because they REJECT KNOWLEDGE . In other words, they DON’T KNOW & THEY DON’T WANT TO KNOW !!!! For those who want to know I suggest you guys who can get the Internet do these things : a) Listen to broadcasts like : Alex Jones (Infowars), Derry Brownfield, The Power Hour (Joyce & Dave), Jeff Rense, and other broadcasts on the Genesis Communications Network. b) Here’s an appetizer of information on the subjects I have just written on : • Do a search use IX Quick search engine .They don’t record your computer’s address ; protect your privacy [ http://ixquick.com/] • Here are three(s) separate subjects that I mentioned that you can search for (i) – Bakken Oil Field Find (ii) – Lindsey Williams (YouTube videos) (iii) – Janine Roberts :Glitter & Greed : The Secret World of The Diamond Cartel
Our only enemies are in Hell , waiting for their life-sentence of damnation. You are in my prayers. Pray for each other too Have Faith in God and Love for each other. May The Lord God Bless You real good
[This inspiring poem was featuring in the movie “Coach Carter ”]
Our Deepest Fear Is Not That We Are Inadequate, Our Deepest Fear Is That We Are Powerful Beyond Measure. It Is Our Light , Not Our Darkness That Most Frightens Us.
We Ask Ourselves, Who Am I To Be Brilliant, Gorgeous, Talented, And Fabulous ?
Actually Who Are We Not To Be ? You Are A Child Of God.
Your Playing Small Doesn’t Serve The World.
There Is Nothing Enlightened About Shrinking So That Other People Won’t Feel Insecure Around You.
We Are All Meant To Shine, As Children Do.
We Were Born To Make Manifest The Glory Of God That Is Within Us.
It’s Not Just In Some Of Us; It’s In Everyone.
And When We Let Our Own Light Shine We Unconsciously Give Other People Permission To Do The Same.
And As We Are Liberated From Our Own Fear, Our Presence Automatically Liberates Others
- Marianne Williamson -
[NOTE – BEING AFRAID AND REFUSING TO GET INVOLVED WON’T STOP US FROM DYING. BUT BEING AFRAID CAN PREVENT US FROM LIVING]
(Nkosi Sikeleli Africa )
God bless Africa May her glory be lifted high Hear our petitions .
God bless us, Your children God we ask You to protect our nation Intervene and end all conflicts Protect us, protect our nation, our nation.
From the blue of our heaven, From the depths of our sea, Over our eternal mountain ranges, Where the cliffs give answer.
Sounds the call to come together, And united we shall stand, Let us live and strive for freedom, In South Africa our land.
[Enoch Mankayi Sontonga]
WAKE UP !!! STAY UP !!!
[http://www.infowars.com/infowars.asx] / [gcnlive.com] Life Is A Game. Have Fun . Luke 18:17 - Isaiah 11:6