Ghanas economy
Ghanas economyGhana is a country in the developing world. It is making great progress for the situation it is in. Compared to most sub-Saharan countries, Ghana is the best off. It has been making the most efforts for recovery in the government and economy. This will provide Ghana with a better economic future and hopefully ensure political instability.
Ghana's economy and development is seeing lots of pluses. The economy is finally recovering from the many coups that occurred in the government. Since 1992, the country has been making strides of progress and is looking towards a bright future. The agricultural sector is also a major plus because it provides a strong section of the economy and would allow Ghana to trade and export its goods. However, a minus of all this is the unstable government. The country has seen many military coups and never has a controlled body in power. This may change because the country's looking towards a
bright future for democracy.
Ghana has, in general, good relations with the United States since independence, except for a period of strained relations during the later years of the Nkrumah regime. Ghana was the first country to which United States Peace Corps volunteers were sent in 1961. Ghana and the United States are signatories to twenty agreements and treaties covering such matters as agricultural commodities, aviation, defense, economic and technical cooperation, education, extradition, postal matters, telecommunications, and
treaty obligations. Ghana's economic well-being and recovery program were closely tied to significant levels of foreign loans and assistance, especially from the World Bank and the International Monetary Fund. Altogether, between 1982 and 1990 countries that gave foreign aid gave a total of
approximately $3.5 billion in development assistance; at the same time. This caused the
country's external debt to reach $3.5 billion. By 1991, the United States became one of the the country out a lot. The U.S. should continue to supply Ghana with this aid. Ghana will make this worth it by exporting their goods to the U.S.
Ghana's future for a multiparty democracy looks bright. At the end
biggest donors and provided a lot of the money for Ghana's development assistance. This
has proven to strengthen Ghana's growing economy and proves to be helping of 1994, the democracy seemed intact and on course. In celebrating two years of democracy at the end of 1994, Ghanaians remembered the fact that each of the last two attempts at constitutional rule had come to an abrupt end after only two years. Given the record since 1992, however, there was cause for cautious optimism. It may be that the return of Jerry Rawlings in 1981 will turn out to be the coup that ended the cycle of coups and the act that led at last to a new political era in Ghana.
So aside from the past military problems in overthrowing the present governments, Ghana is making strides to a better country with a better future. The people will be seeing democracy as their main way of government for awhile without the interference of their leader being overthrown. The developing country may be on a start towards industrialization despite all the underdeveloped countries of the region it in located. In all,if Ghana continues its hard work in trying for development and the military coups cease, it will be facing a great future!