Ghana (2)

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  • Ghana
    • AID
      • Economy growing faster than that of Western Europe
        • Still reliant on AID
      • Receives $1 billion per  year in AID (10% GDP)
      • UK gov.- international development agency
        • £105 million for education - 2005 - 2015
      • AIDS response fund - $20 million
      • Controversial - Akosombo dam
        • River Volta 1961- 1965
        • Produce Cheap electricity
          • to use in processing local boxsight and irrigation
        • 80,000 people relocated from 700 villiages
        • Used bilateral aid from UK and USA & Multilateral aid from World Bank
        • American firms completed the work
          • Received financial ensentatives
    • Trade
      • Cocoa
      • Gold
      • Diamonds
      • Timber
      • Oil and natural gas
      • Narcotics
      • Electricity exported so 20% benefitted from Ghana
      • Fair trade scheme with 1,200 villages so more money for development
      • Trade deflect have to import more expensive manufactured goods
    • Debt
      • 2005- Gleneagles summit Ghana allocated $4.2 billion of mulitateral debt relief
        • Have total of $6 billion
        • Following this Ghana was best performing country in Africa
          • Poverty declined 52% in 1992 to 28% in 2006
          • GDP increased by 5% from 1983-2005 = 6% since 2005
          • 94% if children now attend primary school
      • Frees up about $156 million per yr to spend elsewhere
        • Had to repay loans and fulfil economic reforms

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