Modern Ghana logo

FEATURED: Can We Blame Religion For Africa’s Economic Woes?...

body-container-line
13.06.2005 General News

Debt cancellation is not enough- Addo Kufuor

Joy

The Defence minister, Dr. Kwame Addo Kufuor says the cancellation of the debt of some African countries by the World Bank and other multilateral donors is not enough to facilitate Africa's growth.

The 40 million dollar debt relief granted 18 African countries by the G8 was approved at their last finance ministers meeting in London.

The minister was speaking at the opening ceremony of the second International Peace Support Operations course underway at the Kofi Annan International Peace Keeping Center in Accra.

Dr. Addo Kufuor says the G8 needs to take their support a step further by granting agriculture subsidies to developing countries.

“We plead with the G8 to go a step further and consider the issue of Agric subsidies such as assistance to poor countries to develop their local industry. I plead with our development partners to think about these things,” he says.

He says reducing or canceling Ghana's debt can be done but what the country really needs is to develop its human capacity and value addition to its primary products.

body-container-line