‘Financial systems need reform’

THe President of the republic of Ghana, nana Addo Dankwa Akufo-Addo, has called for an urgent reform of the international financial system, as the current monetary system is skewed against developing countries.

According to President Akufo-Addo, “the financial markets have been set up and operate on rules designed for the benefit of rich and powerful nations, and, during times of crisis, the façade of international co-operation, under which they purport to operate, disappears.”

Taking his turn to speak at the United nations General Assembly, on Wednesday, 21st September, in new York, the President stated “these are the savage lessons that we have had to take in, as the world emerged from the grip of the coronavirus to energy and food price hikes, and a worldwide rise in the cost of living. The necessity for reform of the system is compelling.” — Apo Group