Positives and Negatives for Ghana (2)

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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

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