Ghana Economy

The nation of Ghana is charting a credible and lasting course for our collective development. We are no longer just another developing country; we are now classified as a middle-income country. To be sure, we are currently at the lower end of the middle-income spectrum, but we are working hard to consolidate this new status so that soon enough, in the foreseeable future...

The most prominent example of Ghana’s efforts to strengthen south-south cooperation and diversify both its trade and investment links can be seen in the evolution of its relationship with China. Ghana’s links with China date back to the 1960s, and Accra has long supported the country in a number of its international imbroglios, including the campaign for re-entry into...

In spite of the country’s challenging fiscal situation (see Economy chapter), Ghana has been one of Africa’s best-performing economies in recent years, having seen significant jumps in both headline growth and capital inflows. Recent oil discoveries, combined with sustained prices for cocoa and gold, led to an influx of capital and boosted activity in a range of sectors...

Nestled in the Gulf of Guinea on Africa’s Atlantic Coast, Ghana has developed a reputation as a robust and stable democracy, and with a storied legacy of pan-African initiatives it has long punched above its weight diplomatically. Due to its vast natural resources, Ghana has a strong export profile, although it is somewhat dependent on commodities. It is the world’s...