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World Bank award goes to Hon
Baah-Wiredu
Accra, Oct. 14, Ghanadot – The award by the World Bank for
best reforming economic system in Africa, Top Reforming
African Country, went to Mr Kwadwo Baah-Wiredu,
Minister of Finance and Economic Planning, at a reception in
London, UK.
The award, in a form of a glass
shield is given to the best reforming economic system in
Africa, was shared jointly with the Finance Minister of
Kenya, Mr Amos Kimunya and Finance Minister of Mauritius, Mr
Ali Mansoor all of whom were present at the ceremony at the
Unilever headquarters in London to receive the awards.
The ceremony, which formed part of a day's seminar of Doing
Business 2008, organised by the World Bank, the U.K.
Department of International Development (DFID),
BusinessActionforAfrica with the support of Unilever was
attended by leading World Bank officials and over 100 chief
executives of transnational corporations.
The award presentations were done by the Vice President for
Financial and Private Sector Development of the World Bank,
Michael U. Klein, who praised the three ministers for
steering their economies and business environments from
rough roads to greater reform and growth.
Mr Baah-Wiredu, with his award in right hand and the flag of
Ghana in the left, said the reforms in Ghana had not only
led to strategic legislations in the financial and
procurement areas but also to general checks and balances in
all over administration.
The reforms, he said, accounted partly for the growth in the
economy but there was still much to be done even with over
60 per cent of targeted reforms having been carried out.
"It is not a one day business" he said, and thanked the
World Bank and other development partners as well as those
who had worked on reforms in Ghana for their dedication.
“The Doing Business” reviews, upon which the awards are
given and for which Ghana previously placed as the ninth
best country to do business, look at 10 areas of everyday
business measurements: starting a business, dealing with
licenses, employing workers, registering property, getting
credit, protecting investors, paying taxes, trading across
borders, enforcing contracts and closing a business.
The indicators are used to analyze reforms and business
regulation, identifying which countries are improving their
business environment the most and which ones slip.
They are also used to check economic outcomes and identify
what reforms have worked, where and why.
GNA
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