IMF Staff Country Reports

Ghana: Background Information on Output and Investment Performance

Publication Date:

August 17, 1995

Summary:

This paper examines some factors that may have accounted for the investment and growth performance of Ghana during the past two decades, with special emphasis on the economic recovery program (ERP) period. The paper highlights that Ghana’s growth performance responded well to the liberalization of the exchange and trade regime and the elimination of price controls. Sustained implementation of stabilization policies without reversals was also strongly supportive of growth. However, inflation remained relatively high—at about 25–30 percent—and unpredictable, dampening the incentives for the private sector to save and invest.

Series:

Country Report No. 1995/078

Subject:

Agricultural sector Economic sectors Income Inflation National accounts Prices Private investment Public sector

Notes:

This background information on Ghana was Prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. In releasing this document for public use, confidential material may have been removed at the request of the member.