GhanaA Brief Background

Modern History and Government

• Gained independence from Britain, 1957• Governed by a series of Republics until the 1990’s• Constitutional Democracy, 1992 – present• Active member of International system

– WTO– IMF– UN, and many more

• “Ghana has an enviable record of good governance and stability.”-Ian Gary, Oxfam America’s policy advisor for extractive industries.

Economy

• Easy access to variety of natural resources• One of the more prosperous countries of West

Africa• 28.5% of population below poverty line, 2007• Major reliance on foreign support– Exports: Gold, Cocoa, Timber

Oil

• Large reserves of oil found in 2007, just off the coast– Over a billion barrels (est.)

• One of the largest fields, Jubilee, alone is projected to produce 120,000 barrels/day.

• Will contribute just over $1 billion in government revenue – Much more than Gold exports

Combating the Resource Curse • Oxfam’s Right to Know, Right to Decide campaign is urging oil, gas,

and mining companies and governments to respect the rights of poor people and contribute to the long-term reduction of poverty.

• “A bill has been introduced in Ghana’s parliament that would make oil companies responsible for disclosing their payments, and the government responsible for disclosing what they receive. Making this information public will help Ghanaians hold their government accountable to make sure the new oil wealth goes to health, education and other vital needs.”

• This will hopefully aid in counteracting the Resource Curse and contribute to growth and prosperity for all Ghanaians.– corruption, environmental damage, and social unrest. – Ex: Nigeria