Boasting one of the region’s largest and most advanced markets, Ghana has long been a diplomatic and economic heavyweight in West Africa. In 1957 it was the first sub-Saharan country to gain its independence, and since then has developed into a stable and vibrant democracy that is the envy of many on the continent. Its stability has also allowed it to play a growing role in regional and international affairs, particularly as an active member of multilateral organisations such as the African…
From The Report: Ghana 2017
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Boasting one of the region’s largest and most advanced markets, Ghana has long been a diplomatic and economic heavyweight in West Africa. The post-colonial era saw consolidation of the country’s economy and remarkable increases in the standard of living for many Ghanaians. While an abundance of natural resources has, for the most part, underwritten these improvements, recent efforts to spur development in other sectors have met with some success. Diversification has come into sharper focus recently, as reduced global commodity prices have put a dent in export revenues. In 2015 the government negotiated a three-year extended credit facility with the IMF and is now in the process of implementing the reforms required under the deal, laying the groundwork for future sustained growth.
This chapter contains a viewpoint from President Nana Akufo-Addo; and interviews with Adam Afriyie, UK Trade Envoy to Ghana; Akinwumi Adesina, President, African Development Bank; and Marcel de Souza, President, ECOWAS Commission.