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Vol 52 No 24

Published 2nd December 2011


Ghana

The IMF and the Chinese loan puzzle

The view of Ghana as an economic success, one held by the World Bank and the International Monetary Fund, comes with a price tag. Last year, the first recalculation of national income for 20 years increased the reported gross domestic product by US$500 to over $1,300 a head. That means Ghana becomes a lower-middle-income country and within three to five years will lose its access to cheap loans from the Bank and IMF. The principal repayments on its existing soft loans will immediately double.

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