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Vol 4 (AAC) No 11

Published 1st September 2011


The revolution will be financed

President John Atta Mills plans to use Chinese credit lines to develop the country’s hydrocarbons infrastructure and build up an industrial base

Opposition New Patriotic Party (NPP) members of parliament were up in arms when the governing National Democratic Congress (NDC) used its slim parliamentary majority to push through approval of a US$3 billion credit line from the China Development Bank (CDB) on 27 August. The NPP’s abstention and the party’s subsequent criticism of the shape of the agreement was based on a perception that the Master Facility Agreement (MFA) had been laid before the House without details of the subsidiary projects to be funded.

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