Word: acheampong
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Dates: during 1970-1979
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...several instances, Harvard development teams have parted on less than amicable terms with host countries. After Colonel Acheampong's military takeover in 1972, the government of Ghana asked Harvard to pack its bags. And when a military junta took over in Greece in 1967. Harvard terminated a contract with the Greek government...
...What Ghana needs today is unity," he says, "no matter what one's origin or tribe." He has instructed his subchiefs to concentrate on local affairs. In return, Ghana's President, Colonel Ignatius Acheampong, has pledged to leave tribal affairs solely in the hands of the chiefs. Thus, when local student groups started to protest in June against a $2.5 million palace that Nana Opoku is now building in Kumasi, they were quickly told by Accra...
...Colonel Ignatius Kutu Acheam-pong seized power last year, they decided to solve the problem by repudiating a $94 million obligation to Britain (on the grounds that it had been incurred through corruption) and by declaring an indefinite moratorium on much of the remaining debt. A few months later, Acheampong proclaimed Ghanaian control over "the commanding heights of the economy" and nationalized 55% of the country's foreign-owned gold, diamond and timber operations...
...economic disaster is a steep rise in the world price of cocoa, which has doubled since the Redemption Council came to power. Since Ghana produces more than one-third of the world's cocoa and depends on it for 70% of its foreign exchange, the boon has given Acheampong a chance to try to restore Ghana's credit overseas. He is said to be ready to negotiate a rescheduling of the country's debts, but he is hoping for some very sweet terms: a ten-year moratorium and then a 50-year repayment period...
Once these negotiations are out of the way, Acheampong will have a chance to think about holding elections and returning the country to civilian rule. But all this will be out of the question, he says, "as long as there is work to be done getting Ghana back on its feet." Given the scope of the job, that may be a very long time indeed...