wolfensohn
Story: Stephen Sah, London
Former World Bank President, Mr James D. Wolfensohn,has urged countries in the Commonwealth to share theirexperiences in order to bridge the growing poverty gapbetween them. He said without equality stability is unlikely,especially in thedeveloping countries and therefore the onus lies onthese countries to address issues such as universal basic education,health, gender inequality and trade among themselves and with othercountries because of their enormous benefits todevelopment. Mr Wolfensohn, who is now Special Envoy to the Quartetfor the Gaza Disengagement was delivering the 9th AnnualCommonwealth Lecture at the Institute of Education ofthe University of London on Thursday. It was on thetheme "The future of the Commonwealth: A bridgebetween an emerging three speed world. He said since equality and social justice were thefocal point of the Commonwealth, which has a tremendous thrust to drawon these values. These values could be achieved by sharingexperiences, he added. According to him, if that was not done now it wouldbe difficult in the next 10 to 20 years where therewould be a huge change in the dynamics between richand poor countries. The former World Bank Presidentcalled on Commonwealth countries to createbusiness-friendly environment to encourage people toinvest which will ensure competition and more foreigndirect investment. He cited for instance that while it took less than 13days to get a business registered in the European countries, ittook more than 23 days and 48 days to do the same inAsia and developing countries. He said that by 2050 four countries namely Brazil,Russia, China and India would be among the 10 topworld best nations in terms of real Gross DomesticProduct (GDP) and the developing world’s total GDP ofabout 20 per cent was likely to double over the periodif measures were taken to address the issues raised. Currently, he said, the G8 (7) nations whichconstitute 20 percent of the world population have atotal share of 80 per cent GDP while the developingcountries have a share of 20 per cent. Mr Wolfensohn said too many of the Commonwealthcountries, especially in sub-Saharan Africa wouldcontinue to be poor while the rich would also continueto be rich. He said Africa's problem was more related toleadership and it was through accountability, goodplanning and implementation coupled with the tacklingof education, health and other issues that thecontinent would come out of its predicament. The issueof corruption, he noted, had a social and culturalroots and needed to be address from that perspectivevis-à-vis good leadership. Some of the past speakers at the lecture includeUnited Nations Secretary General Kofi Annan (2000),Nigerian President Olusegun Obasanjo (2005).
Story: Stephen Sah, London
Former World Bank President, Mr James D. Wolfensohn,has urged countries in the Commonwealth to share theirexperiences in order to bridge the growing poverty gapbetween them. He said without equality stability is unlikely,especially in thedeveloping countries and therefore the onus lies onthese countries to address issues such as universal basic education,health, gender inequality and trade among themselves and with othercountries because of their enormous benefits todevelopment. Mr Wolfensohn, who is now Special Envoy to the Quartetfor the Gaza Disengagement was delivering the 9th AnnualCommonwealth Lecture at the Institute of Education ofthe University of London on Thursday. It was on thetheme "The future of the Commonwealth: A bridgebetween an emerging three speed world. He said since equality and social justice were thefocal point of the Commonwealth, which has a tremendous thrust to drawon these values. These values could be achieved by sharingexperiences, he added. According to him, if that was not done now it wouldbe difficult in the next 10 to 20 years where therewould be a huge change in the dynamics between richand poor countries. The former World Bank Presidentcalled on Commonwealth countries to createbusiness-friendly environment to encourage people toinvest which will ensure competition and more foreigndirect investment. He cited for instance that while it took less than 13days to get a business registered in the European countries, ittook more than 23 days and 48 days to do the same inAsia and developing countries. He said that by 2050 four countries namely Brazil,Russia, China and India would be among the 10 topworld best nations in terms of real Gross DomesticProduct (GDP) and the developing world’s total GDP ofabout 20 per cent was likely to double over the periodif measures were taken to address the issues raised. Currently, he said, the G8 (7) nations whichconstitute 20 percent of the world population have atotal share of 80 per cent GDP while the developingcountries have a share of 20 per cent. Mr Wolfensohn said too many of the Commonwealthcountries, especially in sub-Saharan Africa wouldcontinue to be poor while the rich would also continueto be rich. He said Africa's problem was more related toleadership and it was through accountability, goodplanning and implementation coupled with the tacklingof education, health and other issues that thecontinent would come out of its predicament. The issueof corruption, he noted, had a social and culturalroots and needed to be address from that perspectivevis-à-vis good leadership. Some of the past speakers at the lecture includeUnited Nations Secretary General Kofi Annan (2000),Nigerian President Olusegun Obasanjo (2005).
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