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Why is Ghana an LEDC?
- Historic Reasons
- Each kingdom had their own language and culture, so developing the country as an entity was difficult.
- The Transatlantic Slave Trade meant that they sold 5000 slaves to Europe annually.
- This tore families apart and continued for 150 years.
- This tore families apart and continued for 150 years.
- Couldn't compete with European goods after 1901.
- The British began exporting gold, Ghana's biggest export
- Taxes were too high to trade in Europe
- The British began exporting gold, Ghana's biggest export
- Each kingdom had their own language and culture, so developing the country as an entity was difficult.
- Political Reasons
- Political Timeline:
- 1957: Ghana is one of the first African countries to gain independence from colonies, the economic situation is positive.
- 1958: Ghana is becoming a one-party state and won't accept Valco agreements, something that has hindered it's economy and electricity supply, today.
- 1964: Now controlled by a dictator and turns to communist countries for assistance.
- 1966: Dictator is over ruled and new elections are held
- 1972: Leader Acheampong lacks experience and causes corruption growth
- 1979: New party try to restore order. Previous leaders are executed
- 1984: Rawlings proves popular and rectifies the economy through strong connections and IMF funding
- 1985: Western donor countries begins questioning Human Rights in Ghana
- 1998: Electricity needs to be sourced from Cote d'Ivorie as
- 2001: Ghana accepts World Bank debt relief
- 2001: Ghana accepts World Bank debt relief
- 1998: Electricity needs to be sourced from Cote d'Ivorie as
- 1985: Western donor countries begins questioning Human Rights in Ghana
- 1984: Rawlings proves popular and rectifies the economy through strong connections and IMF funding
- 1979: New party try to restore order. Previous leaders are executed
- 1972: Leader Acheampong lacks experience and causes corruption growth
- 1966: Dictator is over ruled and new elections are held
- 1964: Now controlled by a dictator and turns to communist countries for assistance.
- 1958: Ghana is becoming a one-party state and won't accept Valco agreements, something that has hindered it's economy and electricity supply, today.
- 1957: Ghana is one of the first African countries to gain independence from colonies, the economic situation is positive.
- Political Timeline:
- Big Debts
- Ghana owes $2.6 million in loans repayments
- The money they began borrowing now has interest, leaving less for development projects
- Ghana owes $2.6 million in loans repayments
- Environmental Reasons
- Northen land is turning to desert due to overcultivation then worsened by droughts
- 56% of Ghana's workforce are farmers
- 3/4 of rainforest has been destroyed for firewood, timber and land
- Soil degrades when it is exposed and people can't afford fertilisers
- Less crops to sell
- Less crops to sell
- Soil degrades when it is exposed and people can't afford fertilisers
- 56% of Ghana's workforce are farmers
- Northen land is turning to desert due to overcultivation then worsened by droughts
- Trading Troubles
- Many Ghanian farmers grow rice but this is now cheaper to source from Asia, putting them out of business
- Ghana relies heavily on Cocoa for income but the world prices for this fluctuates a lot.
- No trading tariffs in place to help Ghanian farmers locally, so they all suffer
- Many Ghanian farmers grow rice but this is now cheaper to source from Asia, putting them out of business
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