A lively piece of work by Craig Murray looking at the prospects for Ghana getting rich and ruined by Oil Money.
Knowing nothing about Ghana or indeed about Oil Money, I leave it to you to work out whether his well-turned analysis makes sense. It is certainly interesting enough.
But this caught my eye:
At the same time, revenue must urgently be directed to rural infrastructure, to increasing farm prices and developing agro-processing industry, on a scale not previously attempted. Ghana already has a major problem keeping young people in farming. Think how much this will worsen when oil starts to flow.
Why should young people stay on farms now that the country is going to get rich? Ghana as the anti-Nigeria, ie a new hi-tech Singapore-style place rather than a typical agriculture exporting African country?
Is not the point of acquiring such largesse that it gives a country the chance to look at quite different options, not merely ways to impose top-down solutions based on old ideas?