A few years ago, Ghana’s economy was one of the fastest growing in the world, with GDP growth rates stretching above 14%. 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, from telecoms to construction. Although Ghana’s economy is still growing apace – GDP was up 6.7% in the...
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Articles & Analysis | Getting spending under control and straightening out fiscal policies will be key from The Report: Ghana 2014
Although Ghana’s economic fundamentals have improved immensely in recent years, benefitting from the discovery of oil as well as reforms in everything from revenue collection to subsidy structures, the public sector balance sheet has for decades been a stubbornly challenging issue. In the first half of 2014, the budget shortfall totalled 4.2% of GDP, above the official...
Interviews & Viewpoints | OBG talks to Mona Helen K Quartey, Deputy Minister of Finance from The Report: Ghana 2014
What impact does the transition to lower-middle-income country (LMIC) status have on a nation’s ability to mobilise foreign financing?
Interviews & Viewpoints | OBG talks to Donald Kaberuka, President, African Development Bank from The Report: Ghana 2014
What challenges do sub-Saharan African (sSA) governments face in terms of financial management?
Articles & Analysis | The government focuses on distributing resources more equitably from The Report: Ghana 2014
Economic development in Ghana has been uneven. The areas in the north – the Northern Region, the Upper West Region and the Upper East Region – have historically been less well off and have tended to benefit less from growth than the rest of the country. It is a persistent disparity that is now beginning to get considerable attention: new government measures target...
Articles & Analysis | A stable political system supports growing foreign relations from The Report: Ghana 2014
Under the 1992 constitution, which created the fourth republic, Ghana has a unitary presidential system. The president, who is also the head of state, is elected every four years and the balance of power is ensured by a system of checks and balances. The current constitution of the Fourth Republic outlines the foundations of a republican version of democratic government...