Government to pursue policies relentlessly

Accra, Sept. 26, GNA - President John Agyekum Kufuor on Friday said his government would pursue its policies relentlessly and prudently to sustain the massive goodwill, which the country has enjoyed from the international community.

He said: "To us, this is a vote of confidence in the government's reform policies," adding that Ghana's reforms would be carefully regulated so as to generate a high degree of confidence, employment, savings and taxes as a way of ensuring economic growth.

A statement issued from the Office of the Press Secretary to the President in Accra said President Kufuor, who was attending the 58th UN General Assembly, was addressing a gathering at the Columbia University in New York.

In outlining Ghana's financial sector reforms, he said, it is Ghana's objective to become the financial hub of the West African Sub-Region.

President Kufuor said Ghana's domestic debt has been converted to long-term instruments and the Central Bank's financing of government deficits had stopped. He announced the introduction of a bill to Parliament, which would ensure the Central Bank's control over the financial sector.

Ghana, he said, had enjoyed some external debt relief under the highly Indebted Poor Countries (HIPC) initiative and funds accruing under it are being used to reduce poverty and create wealth among the poor.

President Kufuor said the government was promoting micro-level rural and cottage industries as a strategy in reducing poverty, adding that artisans were being trained to raise their entrepreneurial skills in a bid to raise their business from subsistence levels. He said it was government's strategy to boost the production of cocoa and to diversify into cashew, pineapple, cotton, cassava and mango production.

President Kufuor also mentioned rural electrification and the construction of the West Africa Gas Pipeline as a means of providing cheap energy for industrial purposes.

This, he said, formed part of the measures to provide appropriate infrastructure for economic development.

In a bid to improve upon supply of appropriate manpower aimed at sustaining development policies, first cycle schools in rural communities as well as tertiary education were receiving special attention.

In appreciating the support of development partners such as the UN, US, Great Britain, Japan, France, IMF and the World Bank, President Kufuor called on the World Trade Organisation (WTO) to address issues of market accessibility and agricultural subsidies.

He said, Africa deserved a chance and all men of goodwill must back Africa in this endeavour.