Development and the Debt Trap

Economic Planning and External Borrowing in Ghana

By Andrzej Krassowski

© 2011 – Routledge

174 pages

Purchasing Options:
Paperback: 9780415848350
pub: 2014-09-12
US Dollars$48.95
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Hardback: 9780415592826
pub: 2010-11-26
US Dollars$110.00
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About the Book

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.

Table of Contents

1. Introduction 2. The Root of the Problem: Economic and Political Conditions and Objectives in the Decade Before Independence 3. The Transition from Financial Self-Reliance to External Dependence, 1957-1961 4. The Plunge into Insolvency (1962-65) 5. The Nkrumah Legacy 6. Post-Nkrumah Efforts at Rehabilitation and Debt Settlement 7. Summary and Lessons

About the Series

Routledge Library Editions: Development

Routledge Library Editions: Development will re-issue works which address economic, political and social aspects of development. Published over more than four decades these books trace the emergence of development as one of the most important contemporary issues and one of the key areas of study for modern social science.

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Subject Categories

BISAC Subject Codes/Headings:
BUS000000
BUSINESS & ECONOMICS / General
BUS068000
BUSINESS & ECONOMICS / Development / Economic Development