The Economy PDF Print E-mail

Ghana, rich in agricultural resources, timber, gold and other valuable minerals, abundant with educated skilled and enterprising people, blessed with a stable form of government and dedicated to the principles of free enterprise, has long been seen as one of Africa’s most promising countries.

The main exports - gold, cocoa, diamonds, timber, manganese and bauxite - known as “traditional” items, are now increasingly supplemented by processed and semi-processed industrial and agricultural products with tourism as the third largest foreign currency earner after cocoa and gold.

Economic Recovery

Ghana began an Economic Recovery Programme (ERP) in 1983, and has undertaken a series of comprehensive macroeconomic and structural adjustment reforms aimed at reversing the economic decline that had characterised the state of the economy for almost a decade. The reform programme included restructuring of institutions, diversifying the economy’s capacity to adjust to both external and internal shocks and to generate sustainable growth and development.