THE Vice President, Naana Jane Opoku-Agyemang, has called for urgent reforms to the global financial system, stating that democracy could only survive when institutions worked fairly and economies delivered for ordinary people.
She made the remarks in Barcelona, Spain, where she represented President John Dramani Mahama at the Fourth Meeting of the In Defence of Democracy Summit.
Professor Opoku-Agyemang said many developing countries continued to face unfair lending conditions, high interest rates and trade systems that favoured only a few nations. She stressed that financial resources had to be distributed more equitably and global trade made more inclusive if democracy was to remain resilient.
She explained that defending democracy went beyond elections and political systems, adding that it required building institutions that people could trust and creating economic opportunities to reduce hardship and inequality.
The Vice President also called for stronger governance, accountability and oversight in the digital space.
She used the platform to highlight Africa’s efforts to strengthen its economies through the African Continental Free Trade Area Agreement, noting that the initiative was helping to connect markets, improve competitiveness, increase intra-African trade and create jobs.
Professor Opoku-Agyemang further stated that progress on the continent had to be matched by reforms at the global level, particularly those that would make international financial institutions more responsive to the needs of developing countries.
She said democracy would be sustained by institutions that served citizens, economies that created shared prosperity and a collective commitment to fairness.
The In Defence of Democracy initiative, which was launched during the United Nations General Assembly in 2024, seeks to enhance cooperation among governments in responding to threats to democratic values.
The summit brought together world leaders and representatives of international organisations to deliberate on growing threats to democracy, including extremism, political polarisation and disinformation.
Discussions focused on strengthening institutions and multilateral cooperation, managing the impact of digital technology and misinformation, and addressing extremism and inequality.
BY AGNES OPOKU SARPONG
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