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ยป Ghana adopts Norwegian petroleum model

Ghana is to adopt the Norwegian model which divides petroleum revenue into three pools - budget, heritage and stabilization funds. This is contained in the Petroleum Revenue Management Bill, which is before the Parliament of the West African country. 

Whereas the Heritage Fund will ensure intergenerational equity because of the finite nature of resource revenue which compels some governments to save windfall revenues for future generation, the Stabilization Fund would be used to mitigate volatile situations that might arise in future. 

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