By Hilary Mare
PRESIDENT Hage Geingob has reiterated that while developing countries, in particular African nations have done much to put in place sound macro-economic fundamentals, by pursuing prudent and disciplined fiscal and monetary policies, their efforts continue to be frustrated by an unjust global trading and financial system.
Without holding back, Geingob expressed that developed countries preach fair play, but in actual practice do not play fair when they are negotiating with developing countries
“The creation of conditions required for a shared inclusive economy that generates decent job opportunities will be pivotal in our quest to eradicate poverty by 2030. The current system makes it extremely difficult for our countries to industrialise. However, no developed Nation today can claim that it is where it is without having industrialised. In the process of industrialisation, developed countries preach fair play, but in actual practice do not play fair when they are negotiating with developing countries. The playing field is always in their favour. Why should developing countries be denied similar opportunities, why kick away the ladder?” he said. In further pursuing his view, Geingob extended that inequality is increasing worldwide and the categorisation of countries as middle-income countries creates a wrong impression that these countries can stand on their own and do not need international support. “This categorisation of countries that simply divides GDP into population and high per capita income does not take into account wealth distribution that has become a key issue of discontent globally. It is impossible to capture the developmental status of a nation in one single denominator such as GDP per capita. Of great concern is that average income does not reflect distributional issues. A country may through rapid GDP growth graduate from low-income into middle-income status but all citizens may not necessarily share such growth. Income generation or growth that is not shared is not a sustainable growth,” he added.
Summing up his view, Geingob stated that the creation of conditions required for a shared inclusive economy that generates descent job opportunities will be pivotal in Africa and Namibia’s quest to eradicate poverty by 2030. “In international organisations there is trust deficit, because there is no transparency in some cases. Equally, trust levels between politicians and the citizens have been on the decline globally. Therefore, we must govern in partnership at international level. True partnership must be based on equality in relationship. To improve trust levels, we have developed the following mathematical formula of A + T = Tr. That is to say that Accountability plus Transparency results into improved trusts level,” he said.
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