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By: Natogmah Issahaku
Ghana needs to stand up and be counted among nations and should make efforts to take her rightful place in the comity of nations.
BRICS, an acronym that stands for Brazil, Russia, India, China, and South Africa, is a multilateral organization of countries that aim to foster unity and development, in peace, on equal-partner basis, among member nations.
BRICS was formed on 16th June 2009; has its headquarters in Shanghai, China and recently established the BRICS Bank (New Development Bank), also located in the same city.
Ghana’s relations with other nations, particularly, those in the West, will not, and should not be affected by her BRICS membership, as no harm will be done to any nation if Ghana joins the organization.
Ghana’s national interest and the future of younger generations and those yet unborn should be prioritized and rated as more important than the interest of other nations. Ghana’s national interest must come first!
Ghana does not belong to any similar global economic development organization, so joining BRICS will neither contradict nor conflict with any such organization.
The main objectives of BRICS are:
“To increase, deepen, and broaden cooperation among its member countries to promote growth that is sustainable, fair, and mutually beneficial for everyone. All the members’ growth and progress are considered, to ensure that the economic strengths of each country are used to build relations and eliminate unhealthy competition where possible, necessary” (BRICS website).
Ghana needs all forms of infrastructural development and sustainable economic growth to raise the standard of living of Ghanaians to middle income status, which could be achieved through participation in BRICS.
These needs, which translate into some of the objectives of our national development agenda, are congruent with, and would converge with the aims of BRICS.
Once Ghana gets her finances in order and ensures a stable Ghana Cedi in the foreign exchange market by raising the amount of foreign exchange reserves and building up massive gold reserves to prudent levels; achieving a balance of payments surplus; reducing Debt-to-GDP ratio down to around 50%-60%; and engaging in cost re-engineering to cut unnecessary financial waste, she should take steps to prepare an application to join BRICS.
Ghana should apply to join the BRICS New Development Bank (NDB) now, while preparations are made to join BRICS.
Critically, Ghana stands to benefit enormously from a BRICS membership, in terms of rapid infrastructural and industrial development. Similarly, Ghana has a lot to offer BRICS member nations, in return, in a win-win partnership. And, because BRICS development cooperation model is based on equality and fairness, Ghana will not engage in panyarring of her national sovereignty and dignity to creditor nations and multilateral financial institutions, which, hitherto is the case.
Ghana, traditionally, a non-aligned nation, needs to leverage her good relations with countries in both the global West and the global East to optimize benefits that can be accrued for accelerated national development.
Ghana, above all else, needs to adapt to the fast-changing reality in the current global multi polarity and should not stagnate in the past.
A visionary President should take steps to lead Ghana into the BRICS fold, soonest, without hesitation.
Source: http://infobrics.org
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