Good Governance: President Faure GNASSINGBE calls for far-reaching reforms in international and regional economic institutions

During the 9th summit of the Forum on China-Africa Cooperation, the President of the Republic of Togo, H.E. Faure GNASSINGBÉ, delivered a speech addressing the importance of good governance.

Speaking alongside other African leaders in China, he emphasized that the principles of good governance, often recommended for nations to foster development and democracy, should equally apply to international organizations.

In his remarks, President GNASSINGBÉ questioned the governance and operational effectiveness of global and regional institutions, particularly economic organizations.

He cited the World Trade Organization (WTO), financial bodies like the International Monetary Fund (IMF) and the World Bank, as well as the Economic Community of West African States (ECOWAS), as examples requiring attention.

According to the Togolese president, wealthier nations are disproportionately represented in these global institutions, while developing countries lack adequate opportunities to voice their concerns.

To ensure these organizations can fully achieve their mandate of promoting equitable economic growth, President GNASSINGBÉ advocated for significant reforms in both governance and operations within these institutions.

He stressed that improved governance in these economic bodies is crucial for member states to tackle the complex challenges they face.

Furthermore, he highlighted that the effective functioning and governance of these institutions would contribute to global peace, stability, and crisis prevention.

Chantal TAWELESSI