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Vol 43 No 16

Published 9th August 2002


Ghana

Too good

The government has raised eyebrows by contracting a $1 billion, low-interest loan from a group calling itself the International Finance Consortium (not to be confused with the International Finance Corporation, the private-sector lending arm of the World Bank). It's a scam, claims the opposition, pointing to the loan conditions, which include a sovereign guarantee of repayment and a transaction fee of 3.5 per cent.

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