…a viable alternative
In a virtual address during the general debate of the United Nations General Assembly’s 76th session in September 2021, Chinese president Xi Jinping proposed the Global Development Initiative (GDI) to support timely achievement of the United Nations Sustainable Development Goals (UN SDGs). Focused on eight priority areas – namely poverty alleviation, financing for development, food security, climate change and green development, pandemic response and vaccines, industrialisation, digital economy and connectivity – the GDI seeks to replenish and accelerate decades of hard-earned progress (for all 17 UN SDGs) wiped-out by the COVID-19 pandemic.
To achieve this daunting goal, China through the GDI is strengthening global development partnerships and promoting stronger, greener and healthier global development – a timely action, especially for developing countries as they struggle to recover from the brutal impact of COVID-19 pandemic exacerbated by the Russia-Ukraine conflict, which have disrupted global supply chains. So far, more than 100 countries and international organisations have expressed support for the GDI; and over 50 countries have joined the GDI’s Group of Friends at the United Nations.
Considering the devastating twin impact of the Russia-Ukraine conflict and COVID-19 on Africa’s socioeconomic landscape – slowing the region’s growth and reversing years of progress made toward achieving the UN SDGs of the 2030 agenda for Sustainable Development – the GDI’s introduction by president Xi Jinping is undoubtedly timely. It presents a window of opportunity for African countries to recover strongly, especially Ghana, which used to be one of the continent’s fastest-growing economies. Between 2012 and 2021, Ghana’s real GDP averaged 5.2 percent and GDP per capita grew at an average of 2.3 percent – but unfortunately impacts from COVID-19 and the Russia-Ukraine conflict have constrained economic growth, posing significant setbacks for all the 17 UN SDGs.
With growth expected to further decline to 1.6 percent in 2023 and remain muted in 2024 – accelerating unemployment, derailing poverty reduction goals and stalling progress of other UN SDGs – it is imperative for government to adopt varied and potent approaches to address the economic downturn that has impeded development, and eschew putting all the eggs in one basket. At present, an IMF programme for Ghana has gained traction and seems to be the panacea for the country’s economic woes – but this arrangement has been tried severally. In fact, Ghana has spent 22 of the past 35 years under the IMF’s supervision: a worrying trend that could end if Ghana varies its approach in addressing deep-rooted challenges pertaining to socioeconomic development.
For example, active participation in the GDI programmes, positions Ghana on a new and high-quality socioeconomic development trajectory characterised by six core principles: staying committed to development; staying committed to a people-centred approach; staying committed to innovation-driven development; staying committed to harmony between humans and nature; staying committed to benefits for all to leave no country and no one behind; and staying committed to results-oriented actions. With these unique guiding principles, Ghana’s active participation in the GDI programmes has the tendency to restore social, economic and environmental gains lost as a result of the COVID-19 pandemic and Russia-Ukraine conflict, and accelerate progress for the UN SDGs.
With experience-sharing, capacity-building and practical cooperation, and focus on the central task of implementing the 2030 Agenda being some hallmarks of the GDI, Ghana could benefit enormously from invaluable contributions by member-countries, particularly China. For example, to restore Ghana’s lost progress and accelerate efforts to achieve SDG 1 (end poverty in all its forms everywhere – which sadly is on an upward trend for the last 4 years), Ghana could draw vital and recent lessons from China which achieved this goal at the end of 2020; exactly 10 years ahead of the UN SDGs’ time-frame. A recent (2022) report from the World Bank shows that over the past four decades China has successfully lifted nearly 800 million people from poverty, the largest in human history – a remarkable achievement that undoubtedly offers key lessons to unlock Ghana’s full socioeconomic potential and eradicate poverty in all its forms across the length and breadth of the country.
Again, through the GDI – which prioritises development financing and innovation-driven development – Ghana could scale up value-addition, clean energy production, agriculture modernisation; enhance environmental protection; increase digital connectivity; and drive sustainable industrialisation, all of which are central to improving food and water security, fostering inclusive and sustainable economic growth, improving access to quality healthcare and education, and mitigating inequality. Over the past three years, Ghana’s ranking on the Global Innovation Index (GII) has seen little progress – placing 108th, 112th and 95th in 2020, 2021 and 2022 respectively, out of 132 countries.
Considering the positive impact of innovation on development, Ghana will have to accelerate its innovation capacity to drive social, environmental and economic gains to achieve the UN SDGs. Fortunately, through practical cooperation with GDI member-countries and international organisations, Ghana could tap into vast experiences and capacity, and build strategies to drive innovation for development. For example, Ghana could enhance its innovation capacity via essential lessons, technical and financial support from China, which moved from 43rd in 2010 to 11th position on the GII 2022 rankings – pursuing innovation-driven development. In conclusion, through the GDI, Ghana will be equipped with the needed tool-set to effectively accelerate social, economic and environmental progress to achieve the UN SDGs.
About the Author
Alexander Ayertey Odonkor is a global economist with keen interest in the social, environmental and economic landscape of both developing and developed countries, particularly in Asia, Africa and Europe.
