ECONOMIC GOVERNANCE AND MANAGEMENT 31. A further major challenge to economic management is the general lack of good internal economic analysis caused by weaknesses in analytical capacity and inadequate data. In particular, the perception of a weak Statistical Service needs to be addressed. Since 2001, the Bank of Ghana has implemented a series of measures for improving the quality and reliability of monetary statistics. The quality of Ghana's fiscal data has also improved recently, but concerns remain about their reliability, consistency and comprehensiveness. Employment data remain weak. ii. Findings of the CRM 32. The CRM discussed issues related to: ? National ownership in policy-making; ? Participation in policy-making, and transparency of decision-making processes; ? Government efficiency and capacity; and ? Economic development challenges over the next several years. National ownership 33. Stakeholders generally agree that national ownership of economic programmes and policies would require the willingness of citizens to take full responsibility for the outcome of national policies. The ability to realise effective ownership would depend greatly on the country's domestic capacity to design and implement programmes for solving its economic problems. Such programmes would contain policies on which there was national consensus. General participation of national stakeholders would certainly foster a sense of national ownership. Stakeholders agree that ownership matters, not only because programmes would be a better reflection of the preferences and interests of all citizens, but also because the programmes would then be more fully implemented. Although a reduction in aid dependence could enhance ownership, stakeholders consider the domestic capacity to design and implement sound programmes a far more important instrument for bringing about effective ownership. Stakeholders are generally not particularly alarmed by the current reliance on foreign aid to finance development expenditure, although they would prefer a situation of less dependence. 34. All participants government officials, civil society and the private business sector feel that attracting more foreign direct investment (FDI) to replace foreign aid would be 57

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