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Ghana STRUCTURE OF THE ECONOMY
Most government efforts to restore the productivity of the
Ghanaian economy have been directed toward boosting the country's
exports. These policies, however, have had numerous consequences.
Following the initiation of the ERP in 1983 and the devastating
drought of 1983, Ghana's GDP has registered steady growth, most of
it attributable to the export sector, including cocoa and minerals
and, to some extent, timber processing. The cost of this growth is
apparent, however, in Ghana's growing external debts, which have
financed rehabilitation of the export sector, and in the country's
steady rate of inflation that has curbed consumer imports. The
government has tried with limited success to avoid some of the
country's historical pitfalls by broadening the range of both
exports and trading partners. Nevertheless, prices for the goods
that most Ghanaians purchase have been rising faster than the wages
they receive for their work.
Data as of November 1994
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