Development and the Debt Trap : Economic Planning and External Borrowing in Ghana.
Andrzej. Krassowski
Bok Engelsk 2011 · Electronic books.
| Omfang | 1 online resource (179 pages)
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| Utgave | 1st ed.
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| Opplysninger | Cover -- Title -- Copyright -- Original Title -- Original Copyright -- Contents -- Acknowledgements -- 1. Introduction -- 2. The Root of the Problem: Economic and Political Conditions and Objectives in the Decade before Independence -- 1. Strengths and weaknesses of Ghana's economy in the run-up to the 1951 elections -- 2. The Ten-Year Plan of 1951: the government's response to economic discontent -- 3. The evolution of Nkrumah's economic programme for independence -- 4. Aid and foreign private investment up to independence -- 3. The Transition from Financial Self-reliance to External Dependenc 1957-1961 -- 1. Preparations for Ghana's first post-independence Plan -- 2. The formulation of the Five-Year Plan (1959-1964) -- 3. The 1961 crisis and its effect on policy -- 4. The forging of new links with suppliers of external resources -- i) Official aid from the West -- ii) The Volta River Project -- iii) Private foreign investment -- iv) East European loans -- v) Supplier credits -- 4. The Plunge into Insolvency (1962-1965) -- 1. Government control over the economy -- 2. The formulation of the Seven-Year Plan (1964-70) -- 3. The relationship between public investment, state enterprise and external finance -- 4. External credits: origins, types, terms and uses -- i) Official aid from the West -- ii) Private foreign investment -- iii) Supplier credits and East European loans -- 5. The Nkrumah Legacy -- 1. Ghana's public finances, balance of payments and economy at the time of the coup -- 2. Major changes in Ghana's economy between 1950-53 and 1962-5 -- i) Employment and the supply of skills -- ii) Trends in domestic income and expenditure -- iii) Changes in the sectoral distribution of income -- iv) The growth of the public sector -- v) The balance of payments -- 3. The hard-core problems left from the Nkrumah era.. - 6. Post-Nkrumah Efforts at Rehabilitation and Debt Settlement -- 1. The programme of stabilisation under the NLC -- 2. Economic reforms under the NLC and Busia administrations -- 3. Efforts to reschedule the foreign debt -- 4. Aid from the West -- 7. Summary and Lessons -- 1. Nkrumah's economic programme -- 2. The debt -- Statistical Appendix -- 1. Note on Ghana's statistics -- 2. Currency and exchange rates -- 3. Sources for Appendix and other Tables -- Index.. - Ghana is one of the earliest and most serious examples of the build up of foreign debt by a developing country to support its policies for economic growth. This study, first published in 1974 in conjunction with the Overseas Development Institute, analyses Ghana's economy over twenty years and highlights the problems of the debtor/creditor relationship between developed and developing countries. The study concludes with an assessment of the creditors' contribution to Ghana's critical debt position through their readiness to supply funds without adequately analysing the viability of the programmes they supported and through the repayment and interest terms they offered - terms which were too heavy for Ghana to meet.
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| ISBN | 9780203839904
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