C o l u m b i a U n i v e r s i t y RECORD October 10, 2003 7

BY KRISTIN STERLING

BY COLIN MORRIS

Ghana President Kufuor Promotes Private Sector as Main Engine of Economic Growth

John Agyekum Kufuor,President of Ghana, madehistory when he stepped

into power in 2001. It markedthe first time since Ghana’s inde-pendence in 1957 that one civiladministration handed overpower to another in a constitu-tional and democratic manner.

During the world leadersforum at Columbia, Kufuorexplained that he is committed tothe party manifesto that was cen-tral to his campaign—“To liber-ate the energies of the people forthe good of the property-owningdemocracy in this land, withright to life, freedom and justiceas the principles with whichgovernment and laws of the landshould be dedicated in orderspecifically to enrich life, liberty,and property of each and everycitizen.”

By the end of his first year inoffice, Kufuor recounts he estab-lished five priorities. First, torehabilitate and enhance thecountry’s infrastructure, particu-larly its roads and electricity.Second, to modernize agricul-ture by improving rural develop-ment. To promote this goal hisgovernment offers support toprivate farmers as well as techni-

Director of the Earth Institute Jeffrey Sachs, right, Ghana President John Agyekum Kufuor and Presi-dent Bollinger talk with members of the Earth Institute ahead of Kufuor’s lecture in the Low Library.

RECORD PHOTO BY EILEEN BARROSO

cal advice. One thousand trac-tors, for instance, are being pro-vided throughout the countryand modernize markets, storagefacilities and access to credit isbeing improved.

Third, Kufuor is working toenhance the provision of social

services, particularly educationand health delivery. Fourth, heis upholding and promotinggood governance through effi-ciency improvements and zerotolerance policy towards corrup-tion. Finally, Kufuor is promot-ing the private sector as a

main engine of growth byencouraging entrepreneurialism,and offering training. His min-istries are also helping entrepre-neurs access credit and markets.

Kufuor reports that he is mak-ing great strides implementingprograms that support these

priorities and points to the sup-port he is getting from domesticand foreign investors. Withinthe past two years fiscal andmonetary management haveimproved and utilities are beingderegulated. He indicates thatlarge domestic government debtshave been renegotiated intolong-term instruments, a movethat has helped to free up capitalfor loans to the private sector.

Inflation, which was 42 per-cent when he took office,dropped to 13 percent withinKufuor’s first 15 months inoffice. With the deregulation ofutilities, Ghana has experienceda 29 percent increase in infla-tion, but Kufuor quickly addsthat even so “stabilization hasbeen achieved. There is a rever-sal in the upward surge.” Like-wise, interest rates havedecreased from 52 percent to 25percent. And these achievementshave led to an improved creditrating for the country. Kufuorsays that President Bush praisedhis achievements when they metduring the UN GeneralAssembly.

Kufuor concluded his markson an optimistic note thatthrough additional governmentreforms, Ghana will become a“middle-income earning econo-my” in the next decade.

Russian President Putin Calls for an Educated Relationship Between U.S. and Russia

In front of an attentive audi-ence in the Low LibraryRotunda, President of the

Russian Federation VladimirPutin described the globalbenefits of keeping close tiesbetween the United States andthe Russian Federation.

Putin reminded the audiencethat there was a time in the nottoo distant past when the U.S.and Russia enjoyed the kind ofamicable relationship that couldagain flourish today.

“When we have been together,we have always achievedsuccess and triumphed over evil,tyranny and prejudice,” Putinsaid, after describing the concor-dant relationship and correspon-dence between U.S. PresidentJefferson and Emperor

Alexander in 1807. Putinexplained that benefits can againaccrue for both countries, includ-ing greater trade opportunities,enriched cultural exchange andenhanced global security.

To realize theses benefits Putinemphasized the need for reevalu-ating the manner in which bothcountries learn about each other.

“Unfortunately, the Americanschool of ‘sovietology’ and theSoviet school of ‘American stud-ies,’ or rather, ‘the study ofAmerican imperialism,’ as theyliked to say in Russia at the time,were for many years the hostagesof big politics, when our coun-tries alternated between becom-ing allies, and bringing the worldto the brink of a nuclear catastro-phe,” Putin stated. Scholarlywork was excessively politicizedduring the Cold War, Putinexplained, which worked to

reinforce stereotypes—a trend,which he believes continuestoday.

“Today, our countries adhereto many common values likenever before,” he said. “Howev-er, we can see that we are still along way from a complete andmutual end to differences andstereotypical views about eachother.” Putin encouraged the stu-dents in the audience focusing onRussian studies to directlyinvolve themselves in this task.

In an increasingly intercon-nected world, Putin stressed thata new approach to education cannot only enhance the benefits ofa free society for both countries,but can be used as a safeguardfor the common values of livingthat both the U.S. and Russiawork to enjoy. Neither countryis a stranger to the horrors of ter-rorism, Putin explained, suggest-

ing that the use of force to com-bat these threats can only go sofar.

“The conflict of regions andnations should be countered bythe institutions of knowledgeand humanism,” Putinexplained.

By using a combined intellec-tual front, Putin believes bothcountries can focus on the rootsfor terror such as poverty andsocial instability.

After his speech, Putin touredButler Library and its Bakhme-teff Archive, which boasts thesecond largest depository ofRussian émigré materials

outside of Russia.Putin, along with Russian

Minister of Sport VyacheslavFetisov, also oversaw a baseballskills competition on the SouthField between a Russian youthbaseball team and a Harlem RBIyouth squad. Major LeagueBaseball president Bob Dupuywas in attendance and met withPutin to promote the sport.

Columbia’s own head baseballcoach, Paul Fernandes was onhand with players Brian Dovealaand Jessen Grant to present theRussian President with a Lionsjersey.

Above, Russian President Vladimir Putin addresses the audience inthe Low Library Rotunda. Below left, President Bollinger andColumbia Baseball Coach Paul Fernandes present a jersey to Putinas players Brian Doveala and Jessen Grant look on.

RECORD PHOTOS BY EILEEN BARROSO