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Ghana's industrial base is relatively advanced. Import-substitution industries include electronics manufacturing. Rlg Communications is the first indigenous African company to assemble laptops, desktops, and mobile phones, and is West Africa's biggest information and communications technology (ICT) and mobile phone manufacturing company.
Ghana was the world's leading producer of cocoa, boasted a well-developed infrastructure to service trade, and enjoyed a relatively advanced education system. [1] At independence, President Kwame Nkrumah sought to use the apparent stability of the Ghanaian economy as a springboard for economic diversification and expansion. [ 1 ]
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]
The report is historically important for having marked a shift in African countries’ economic policies towards economic liberalization.It details several policy recommendations in its plan for action, including “(1) more suitable trade and exchange-rate policies; (2) increased efficiency of resource use in the public sector; and (3) improvement in agriculture policies.” [1] In terms of ...
The World Bank supported the process of private sector participation in the urban water sector from the beginning. Following preparatory studies and a national consultation workshop in 1995, the government opted for two 10-year lease contracts among 8 options, including the option to continue public sector operation.
The first list includes estimates compiled by the International Monetary Fund's World Economic Outlook, the second list shows the World Bank's data, and the third list includes data compiled by the United Nations Statistics Division. The IMF's definitive data for the past year and estimates for the current year are published twice a year in ...
On October 6, 2011, Shanta Devarajan, World Bank economist, penned a blog post titled Africa's statistical tragedy, a wordplay on Easterly and Levine's classic Africa's Growth Tragedy. [ 4 ] [ 9 ] In the post, Devarajan noted that the absence of high-quality statistical data hampered Africa, development economists and international institutions ...
The World Bank strongly advised Ghana to drastically improve its transportation to improve its agriculture and economy. [40] According to David Asare Asiamah (founder and CEO of AgroMindest), "Most of the farm produce just go to waste in the remote areas because farmers find it difficult transporting their farm produce to the market to sell.