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Ghana

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Ghana, officially the Republic of Ghana, is a country in West Africa. It borders Côte d'Ivoire to the west, Burkina Faso to the north, Togo to the east, and the Atlantic Ocean to the south. Accra is the capital and largest city. The country's population in 2005 was 21,029,853.

It was inhabited in pre-colonial times by a number of ancient kingdoms, including an inland kingdom within The Ashanti and various Fante states along the coast. Trade with European states flourished after contact with the Portuguese in the 15th century, and the British established a crown colony, Gold Coast, in 1874.

It was the first black African country to obtain independence from colonial rule. Upon achieving independence from the United Kingdom in 1957, the name Ghana was chosen for the new nation as a reference to its ancient roots in the Empire of Ghana.

Economy of Ghana

Well endowed with natural resources, Ghana has twice the per capita output of the poorer countries in West Africa. Even so, Ghana remains heavily dependent on international financial and technical assistance. Gold, timber, and cocoa production are major sources of foreign exchange.

The domestic economy continues to revolve around subsistence agriculture, which accounts for 40% of GDP and employs 60% of the work force, mainly small landholders. In 1995-97, Ghana made mixed progress under a three-year structural adjustment program in cooperation with the IMF. On the minus side, public sector wage increases and regional peacekeeping commitments have led to continued inflationary deficit financing, depreciation of the cedi, and rising public discontent with Ghana's austerity measures.

Information provided by Wikipedia

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