The Speaker of Parliament, Mrs Joyce Bamford Addo has challenged legislators in the Sub-Region to embark on regular meetings to enhance their knowledge and skills on issues in the financial sector.
The periodic meetings she said will strengthen the capacity of the Members of Parliament in order to be effective in enacting legislations geared towards the realisation of national and regional development goals within the current global economic environment.
Mrs Joyce Bamford Addo stated this at the opening of a four day Forum organised by the West African Institute for Financial and Economic Management (WAIFEM) in Accra.
The Legislators at the Forum are from Nigeria, Gambia, Ghana, and Liberia and are expected to deliberate on how Members of Parliament can help to regulate the financial systems and reduce poverty in the Sub-Region.
The Speaker also intimated that the Global financial crisis has affected domestic economies resulting in the reduction of credit to the financial markets and disinvestment in the capital markets of countries in the Sub-Region.
To this end, Legislators from the sub- region should use the forum to acquaint themselves with the Fundamental crisis and deepen their understanding of the monetary and fiscal policy options to help insulate African economies from the harsh effects of the Global financial downturn.
Dr Paul Acquah, Governor of the Bank of Ghana tasked African governments especially those in the sub - region to take steps to maintain macroeconomic stability and continue to encourage investments to diversify the economy and provide safeguards to the vulnerable segments of society.
The Central Bank Boss also explained that maintaining macroeconomic stability is critical for ensuring that domestic economy remains attractive to both domestic and foreign investors to help reduce poverty.
The Director General of WAIFEM, Professor Akpan Ekpo said, the forum among other objectives seeks to build the capacity of officials, including Private financial institutions, NGOs and the mass media to help deepen their capacity in the sub-region
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