Positives and Negatives for Ghana (2)
- Created by: ofields755
- Created on: 27-05-16 10:54
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- Positives and Negatives for Ghana
- Globalisation
- Takoradi Harbour 1928
- GDD increased by 14% 2011, 87% 2012
- Ghana Vision 2020= Make NIC
- Cocoa agreement with China
- to provide cocoa for HEP in Ghana
- Cargill cocoa producing Tima
- Jobs, income
- Discovery of oil
- UK supported 94% children gaining primary education
- Power from dam sent to neighbouring countries
- US company- financial incentatives to use Ghana
- Still imported raw bauscite rather than Ghana
- MEDC still in control
- TNCs don't take interest in Sub Saharan countries
- AID
- Allowed development
- international development agency UK - £105 million
- 2005-2015 for primary educatuon
- NGO- support small development project
- wells and housing
- AIDS response fund $20 million 2005-2011
- Relies heavily on aid
- $1 billion a year
- Akosombo dam had to borrow bilateral and multilateral aid
- Created more issues
- Ghana had to fund remaining
- Trade
- Cocoa
- Timber
- Diamonds
- Oil and natural gas
- Trade schemes with cocoa produces in 1,200 villages
- have to import manufactured goods
- Raw materials not worth as much
- Trade deficit
- exported electricity from dam -only 20% for Ghana
- Debt
- 2005 summit $4.2 billion debt relief
- Credits $156 million a year
- Ghana best economy in Africa
- Poverty declined 34%- 1992 to 28% 2006
- All £ had to go to repay
- Couldn't invest in education or health
- MEDC had all control
- over $5 billion in loans from World Bank since independence
- Globalisation
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