{"id":8566,"date":"2022-01-06T07:42:40","date_gmt":"2022-01-06T07:42:40","guid":{"rendered":"https:\/\/www.africa-press.net\/mauritius\/all-news\/know-the-beginning-well-by-ky-amoako-african-business-book-reviews"},"modified":"2022-01-06T08:03:11","modified_gmt":"2022-01-06T08:03:11","slug":"know-the-beginning-well-by-ky-amoako-african-business-book-reviews","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mauritius\/all-news\/know-the-beginning-well-by-ky-amoako-african-business-book-reviews","title":{"rendered":"Know the Beginning Well by KY Amoako \u2013 African Business book reviews"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Mauritius. <\/strong><\/span>Know the Beginning Well: An Inside Journey through Five Decades of African Development is both the life story of KY Amoako, president of the African Center for Economic Transformation (ACET) in Accra, and a riveting account of the various development challenges that Africa has faced over the last 50 years.<\/p>\n<p>Amoako played a significant role in this regard. He was one of the earliest African technocrats to join the World Bank \u2013 at the time, an institution dominated by the US and the European powers.<\/p>\n<p>\u201cIn the 1970s, I joined the World Bank, which effectively held the future of Africa in it hands yet employed very few Africans,\u201d Amoako recalls.<\/p>\n<p>\u201cOver two decades, I climbed through the ranks, finding myself in the middle of many of the most highly-charged issues, policies, and personalities that defined the Bank during Africa\u2019s most turbulent years.<\/p>\n<p>His two decades at the World Bank began after he was accepted as a Young Professional, a kind of one-year trial apprenticeship scheme.<\/p>\n<p>After gaining a full post, he moved to Washington DC in the middle of July 1974, where his time was punctured by confrontations with the existing order, which he says undervalued African input.<\/p>\n<p>There were very few Africans working at the Bank and consequently little knowledge of the continent, while racist attitudes were not uncommon. Amoako also had health issues to contend with that almost stymied his ambition to return to Africa. After falling ill with flu-like symptoms, he was diagnosed with hypereosinophilia, a rare blood disorder that can damage vital organs.<\/p>\n<p>He came under the care of a team of doctors under the leadership of Anthony Fauci \u2013 the same physician who has led the US administration\u2019s response to the Covid-19 virus and provided a refreshing contrast to President Trump\u2019s more outlandish responses to the disease.<\/p>\n<p>\u201cI believe Dr. Fauci saved my life,\u201d Amoako says.<\/p>\n<p>\u201cThe heart episode was a wake-up call. I knew I could no longer push myself to such an extreme.<\/p>\n<p>I also knew I wanted to spend more time with my wife, Philomena and my daughters, who were old enough now to be aware of their surroundings. And for that reason, working in Africa became even more important to me.<\/p>\n<p>I was finally able to make that happen. \u201d<br \/>\nImplementing reform in Zambia<br \/>\nAmoako was posted by the Bank to Zambia in 1981. In the early 1980s, Zambia\u2019s per capita GNP in real terms was one-third less than in 1964.<\/p>\n<p>The rate of inflation had moved from around 15% at the end of the 1970s to a peak of almost 50% a few years later. Foreign debt had begun to mount, as had arrears in previous loan payments to the Bank and IMF.<\/p>\n<p>Zambia\u2019s average annual growth rate from 1973 until 1980 in mining, its overwhelmingly dominant economic sector, was -0.3%. \u201cSince gaining independence, Zambia had regressed economically in almost every way,\u201d Amoako comments.<\/p>\n<p>\u201cThe more I got to know about Zambia\u2019s political economy, the more I realised how deeply it contributed to the country\u2019s economic problems.<\/p>\n<p>\u201d<br \/>\nZambia\u2019s President Kenneth Kaunda was the first African president that Amoako was to meet.<\/p>\n<p>\u201cThat first meeting took place in Kaunda\u2019s personal study. He and I were alone, with no aides or advisors. Kaunda struck me as gracious, charming \u2013 and savvy. For the first 10 minutes at least, he only talked about his love for Ghana and Kwame Nkrumah.<\/p>\n<p>\u201d<br \/>\nAmoako was to find a pan-African solidarity with his hosts: \u201cContrary to the racial perceptions that prevailed in Washington, the Zambian officials quickly considered me to be one of their own.<\/p>\n<p>\u201cThey welcomed me, my ideas, and, most important, my family. I found the Zambians to be warm and friendly. And most of them \u2013 though certainly not all \u2013 were as eager as I was to turn things around.<\/p>\n<p>He created a special economic management team to bring together the key policymakers to hash out their decisions and collectively make recommendations.<\/p>\n<p>\u201cWe hoped such a mechanism would break past patterns, wherein hardliners would go directly to Kaunda to try and undermine reform momentum. To our relief, KK endorsed the idea.<\/p>\n<p>So we formed the team and named it the \u2018Special Economic Unit\u2019 \u2013 and it brought policy coordination to the top levels of Zambian government for the first time.<\/p>\n<p>Amoako admits that within two years the entire reform programme had collapsed \u2013 as in many of the continent\u2019s countries during this period, progress was rarely straightforward or maintained for long.<\/p>\n<p>Amoako left Lusaka in July 1985, returning to World Bank headquarters in Washington, DC, to start a new job, one that allowed him to keep working on African policy but apply the successes and failures from Zambia.<\/p>\n<p>Those lessons appear to have had a lasting effect on how Amoako continued to work with African governments. Two years later, he was posted to Kenya and Uganda before his remit was broadened to take charge of the Bank\u2019s programmes in Ethiopia, Mauritius, Somalia, and Sudan.<\/p>\n<p>\u201cFor better or worse, there was no more dominant player in African development during the 1980s than the World Bank,\u201d Amoako writes.<\/p>\n<p>\u201cPrior to 1987, two wholly separate vice presidencies were responsible for Sub-Saharan Africa: the Western Africa region and the Eastern and Southern Africa region. This division made it difficult to apply a coherent strategy to common issues facing the continent.<\/p>\n<p>As a World Bank insider, Amoako perhaps underestimates the serious damage that structural adjustment programmes (SAPs) did to the Bretton Woods institutions\u2019 reputation across the continent, merely dismissing them as \u201ccontroversial\u201d.<\/p>\n<p>SAPs may have been well intentioned, designed to reform African economies with loan conditions to strengthen government institutions, capacities, and policies in order to make aid more effective.<\/p>\n<p>However, for many Africans faced with rising unemployment and the withdrawal of subsidies, SAPs proved deeply unpopular and eroded support for the work of the World Bank and the IMF.<\/p>\n<p>At the helm of UNECA<br \/>\nAfter a stint in Brazil, in 1995 Amoako took the helm at the UN\u2019s Economic Commission for Africa (UNECA), based in Addis Ababa. He was to put in place reforms that his successors were to build on to make UNECA the vibrant institution it is today.<\/p>\n<p>\u201cWe were at the centre of dramatic socioeconomic changes in policy and approach at the turn of the century, working with African leaders to completely redefine the aid dynamic between African countries and donors.<\/p>\n<p>\u201cThrough it all, I worked alongside a new generation of African leaders who were integral in changing the African narrative.<\/p>\n<p>And that work continued after his two five-year terms ended and he returned home to Ghana where he founded the African Center for Economic Transformation (ACET) to help governments and leaders ensure that the momentum of the new millennium was not lost.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/mauritius\">Mauritius<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Mauritius. Know the Beginning Well: An Inside Journey through Five Decades of African Development is both the life story of KY Amoako, president of the African Center for Economic Transformation (ACET) in Accra, and a riveting account of the various development challenges that Africa has faced over the last 50 years. Amoako played [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":8565,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,6,8,16],"tags":[233,245,304,241,366],"class_list":["post-8566","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-files","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-mauritius","tag-business","tag-mauritius","tag-policy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Know the Beginning Well by KY Amoako \u2013 African Business book reviews - Mauritius<\/title>\n<meta name=\"description\" content=\"Know the Beginning Well: An Inside Journey through Five Decades of African Development is both the life story of KY Amoa ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/know-the-beginning-well-by-ky-amoako-african-business-book-reviews\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Know the Beginning Well by KY Amoako \u2013 African Business book reviews\" \/>\n<meta property=\"og:description\" content=\"Know the Beginning Well: An Inside Journey through Five Decades of African Development is both the life story of KY Amoa ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/know-the-beginning-well-by-ky-amoako-african-business-book-reviews\" \/>\n<meta property=\"og:site_name\" content=\"Mauritius\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-06T07:42:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-06T08:03:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2022\/01\/img-61d6a223831d2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"372\" \/>\n\t<meta property=\"og:image:height\" content=\"542\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/know-the-beginning-well-by-ky-amoako-african-business-book-reviews#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/know-the-beginning-well-by-ky-amoako-african-business-book-reviews\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Know the Beginning Well by KY Amoako \u2013 African Business book reviews\",\"datePublished\":\"2022-01-06T07:42:40+00:00\",\"dateModified\":\"2022-01-06T08:03:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/know-the-beginning-well-by-ky-amoako-african-business-book-reviews\"},\"wordCount\":1144,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/know-the-beginning-well-by-ky-amoako-african-business-book-reviews#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2022\/01\/img-61d6a223831d2.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mauritius\",\"Business\",\"Mauritius\",\"policy\"],\"articleSection\":[\"all news\",\"economy\",\"files\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mauritius\/all-news\/know-the-beginning-well-by-ky-amoako-african-business-book-reviews#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/know-the-beginning-well-by-ky-amoako-african-business-book-reviews\",\"url\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/know-the-beginning-well-by-ky-amoako-african-business-book-reviews\",\"name\":\"Know the Beginning Well by KY Amoako \u2013 African Business book reviews - 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