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Large swaths of Ghana are facing power blackouts due to gas shortages at a major power facility, the nation’s power operator said, compounding the country’s worst economic crisis in decades.
The gold-, oil- and cocoa-producing nation has been battling its worst economic crisis in a generation brought on by spiralling public debt. Multi-day protests over economic crisis grip Ghana's ...
Ghana became the largest gold-producing country in Africa after overtaking South Africa in 2019. [29] The country is also the second-largest cocoa producer (after Ivory Coast). [30] Ghana is rich in diamonds, manganese or manganese ore, bauxite, and oil. Most of its debt was cancelled in 2005, but government spending was later allowed to balloon.
The rebase moved Ghana into middle income status and it placed the country as the third largest in the ranking of GDP per person in West Africa behind Cape Verde and Nigeria. After the changes in statistics, the service sector became the largest sector of Ghana's economy with a share of 51%.
PPP largely removes the exchange rate problem, but has its own drawbacks; it does not reflect the value of economic output in international trade, and it also requires more estimation than nominal GDP. [4] On the whole, PPP per capita figures are more narrowly spread than nominal GDP per capita figures. [5]
Corruption in Ghana is similar to other countries in the region. [6] Corruption in Ghana affects, among other sectors, natural resource management. Despite government efforts to quell corruption, local elites take advantage of limited transparency and accountability to take control of community natural resources for their personal financial ...
The structure and the power of the judiciary are independent of the two other branches of government. The Judiciary of Ghana is responsible for interpreting, applying and enforcing the laws of Ghana, and exists to settle legal conflicts fairly and in a more competent way. [23] The Supreme Court of Ghana has broad powers of judicial review. It ...
The Ghana banking crisis was a severe banking crisis that affected Ghana between August 2017 and January 2020. The Bank of Ghana (BoG) allowed several indigenous banks to be taken over by private companies between August 2017 and January 2019 after Nana Akufo-Addo was elected president in December 2016.