GDP classification unjust - Geingob

Speaking at the general debate of the United Nations (UN) General Assembly in New York, Geingob said the approach, which simply divides Gross Domestic Product (GDP) by population, completely ignores inequalities in the distribution of wealth and opportunities, and comes with adverse effects on social mobility and progress. “The current approach developed by the International Financial Institutions such as the World Bank and International Monetary Fund (IMF), and subsequently adopted by the United Nations, to classify countries based solely on GDP, does not reflect justice and fairness,” Geingob said. GDP is one of the primary indicators used to measure the health of a country's economy. It represents the total dollar value of all goods and services produced over a specific time period, mostly calculated on an annual basis. Geingob said Namibia has been one of the casualties of this approach, as it has been wrongly classified as a so-called upper- middle-income country without taking into account that due to apartheid, the economic wealth of the country has largely remained in the hands of the minority white population, leaving blacks on the fringes of the economy. The president says the GDP country classification approach denies Namibia access to grants and concessional loans to support the country’s development Agenda. Geingob also spoke about the issues of poverty eradication, unity amongst countries globally, democracy and other social ills hindering development, especially in developing countries such as Namibia. He informed the other member states present at the assembly that Namibia is still faced with enormous social differences between rich and poor, and an acute shortage of housing and other basic necessities. “We hail from a continent whose leaders are busy addressing new goals and new commitments under the banner of the African Union. We are in the process of establishing the New Africa, with its own narrative as told by its sons and daughters. Africa has turned [over] a new leaf, bidding farewell to the days of coup d’états and embracing electoral democracy,” Geingob said. He said African countries are committed to improve the living standards of their people, adding that important strides have been made to uplift millions of people out of extreme poverty, empowering women, advancing human rights, and spearheading the process of decolonisation which was also completed with only one exception, that of Saharawi. Geingob said however, that the majority of African countries still faced the challenge of rectifying socio-economic deficits, and subsequently entrenched poverty, caused by many years of deliberately orchestrated policies of historical neglect and economic exclusion. Geingob further used the opportunity to thank the UN for its involvement in making sure that Namibia is free of the apartheid regime, having gained its independence in 1990. “With assistance from the UN, we exercised patience in preparing for self-governance. Today I can proudly announce to the world that in Namibia, after having fought to free ourselves, we are now eating the ripe fruit of peace and democracy,” he said. Geingob said Namibia is a child of international solidarity, midwifed by the UN and adding that Namibians are both grateful and proud of the support received from the international community, through the United Nations system. In conclusion, he said that the only way that countries can overcome their respective challenges is by the formation of a united front for the advancement of mankind, adding that this is achievable through the platform of the UN. KENYA KAMBOWE