Saturday, May 24, 2008

IMF recedes as global wealth spreads


"ACCRA, Ghana - The economy here turned as hot as the local pepper soup earlier in the decade, with soaring global demand for the nation's riches -- gold, cocoa and bauxite -- sparking a rush to modernize Ghana's decaying roads, rails and power grid. But when the government hatched a plan last year to rebuild the national infrastructure by selling $750 million worth of bonds, its minders at the International Monetary Fund balked."

[Read More:Washington Post- msnbc.com]

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