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On 17th October ECOWAS had asked Niger to postpone its controversial 20th October elections, but the elections had been boycotted by members of the opposition as President Tandja Mamadou faced accusations of trying to lengthen his reign. The ten members of the latter are the Foreign Ministers of the following states: The aims of the Community are to promote co-operation and integration, leading to the establishment of an economic union in West Africa in order to raise the living standards of its people, and to maintain and enhance economic stability, foster relations among Member States and contribute to the progress and development of the African Continent.
In order to achieve the aims set out in the paragraph above, and in accordance with the relevant provisions of this Treaty, the Community shall, by stages, ensure; a the harmonization and co-ordination of national policies and the promotion of integration programmes, projects and activities, particularly in food, agriculture and natural resources, industry, transport and communications, energy, trade, money and finance, taxation, economic reform policies, human resources, education, information, culture, science, technology, services, health, tourism, legal matters; b the harmonization and co-ordination of policies for the protection of the environment; c the promotion of the establishment of joint production enterprises; d the establishment of a common market through: The difference goes beyond a name change and an increase in the number of officers at the management level.
Changes have already been underway with the support of development partners.
By implementing this transformation process which should reposition ECOWAS vis-a-vis the West African The economic development of ghana essay to whom pledges have been made, the leaders of our region have taken the destiny of their institution into their own hands. Indeed, by subscribing to the vision of the Founding fathers of ECOWAS, they have taken ownership of the objectives designed to improve the living conditions of the citizenry, ensure economic growth and create an environment conducive to development and integration.
Regarding the Community Parliament, the restructuring is designed to make it more efficient by providing it with relevant management support. Its members represent all the peoples of West Africa. Parliament consists of seats.
Each of the 15 Member State has five seats at least. The remaining seats are shared in proportion to the population. The Mandate of the Court is to ensure the observance of law and of the principles of equity and in the interpretation and application of the provisions of the Revised Treat and all other subsidiary legal instruments adopted by Community.
This project is only one of a handful of regional partnerships with the private sector that ECOWAS has managed to establish. Another venture that has been in existence since is ECOBANK, which is now a full-service regional banking institution with 57 branches and offices in 12 countries across West Africa.
It was established in June with funding from the World Bank. Regrettably it has yet to attract sufficient capital to see the project take off, indeed. Its main aim is to promote regional integration. Like for instance, the effective coordination of policies throughout the region, the need to help some countries that may suffer loses in the early stages or the need to surrender some sovereign powers in the decision-making process.
Since coordination of economic planning and economic policies demand surrender of part of sovereignty, integration problems could arise because states in the sub-region seem to jealously guard their sovereignty.
This is an important omission for the need of the Member States to have a common stand on many issues and to bargain together with other countries.
Thus, elimination of customs duties among the members might open wider markets for those countries that have already heavy industries, which means they could dominate the markets of the less developed ones with products that are produced at lower costs, with cheaper raw materials from within the community.
As a consequence, the less developed members, facing higher costs, have to compete with these economies of scale. The situation might nevertheless be improved through harmonization of economic and industrial policies which might have to share out areas of industrial specialization for the various states making adequate provision for the less developed members.
It should be added that most of the West African countries rely on primary agricultural produce for their foreign-exchange earning. Therefore, the sharp drop in the prices of some of the agricultural products coupled with inflation on imported goods leads to some countries to face balance-of-payments deficits while countries with more diversified agricultural products coupled with minerals have surpluses on their balance-of-payments accounts.
Problems for ECOWAS could also arise from the existing material infrastructure of the West African sub-region, which is hardly developed and thus constitutes a basic impediment to the growth of intra-regional trade within the ECOWAS, for instance the internal and international road system or the need for modern harbours, the telecommunications system, the need for a modern well-developed commercial banking system or an organized exchange market.
This underdeveloped material, human and institutional structure is an essential factor in slowing down the full benefit of a multilateral system.In their report on the Ghana economy published in , the IMF reported "the concentration of exports in three commodities—gold, cocoa, and oil—makes the economy vulnerable to terms of trade shocks." Indeed in , Ghana had to ask for IMF support because of .
This study note covers aspects of economic growth and development in Ghana Ghana's economy is the second biggest in West Africa and it is booming helped by strong exports of cocoa, gold and oil. Ghana is one of Africa's most established democracies with a history of free elections and changes in government between the main parties.
Keywords: ghana rural development. The problems of rural development in the Third World and in Ghana in particular, have become a major concern today. This concern notwithstanding, the problems seem as intractable as ever.
There are significant disparities in income and standards of living between the rural and urban populations (GPRS, ). The Economic Development Of Ghana Ghana is an African country located on the western side of Africa. Its neighbors are Burkina Faso to the north, Togo to the east, the Atlantic Ocean to the south, and Cote D'Ivoire to the west.
The Economic Development Of Ghana - The Economic Development of Ghana Ghana is an African country located on the western side of Africa. Its neighbors are Burkina Faso to the north, Togo to the east, the Atlantic Ocean to the south, and Cote D'Ivoire to the west.
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