Strengths
- Established track record of good governance, with a functioning democratic system and peaceful transfer of power among political parties.
- Natural resource base (cocoa, gold, forestry etc.) now supplemented by discovery of commercially- exploitable oil reserves – output from 2011.
- Strong GDP growth in recent years, even with a downturn in 2014-15.
- Market-oriented policy framework.
- Positive relations with the IFIs.
Weaknesses
- While some safeguards are established, the ability and capacity to manage oil wealth is yet to be tested fully.
- Continuing twin deficits (fiscal and current account) require careful management.
- Frontier markets, including Ghana and Nigeria, are not immune from sell-off pressures in emerging economies. There is therefore periodic risk of currency depreciation, FX reserve depletion and capital flight.
- Although per capita incomes have improved, poverty remains pervasive in some rural areas.
- Regional instability and uncertainties, Burkina Faso, Nigeria and Mali.
Continue Reading; Country-Report-Ghana 2016