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Resource-based African Development Strategy - Partnership to Cut ...

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e.g. Norwegian Global Fund• Oil & gas taxes are invested in a global l portfolio and earningsare used by government for current expenditure.RADSSource: Fridjof Barents, UNCTAD 2006For <strong>African</strong> countries, the windfall earnings could beinvested in an offshore <strong>African</strong> investment fund(PAIDF?) & committed <strong>to</strong> long-term infrastructuretinvestment, <strong>to</strong> ameliorate currency appreciation(Dutch <strong>Resource</strong>-<strong>based</strong> Disease) <strong>African</strong> <strong>Development</strong> & improve <strong>Strategy</strong>national competitiveness.

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