Ghana: Selected Issues Paper

IMF Staff Country Reports, December 18, 2019

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Ghana: Selected Issues Paper

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Bibliographic details

• Published: December 18, 2019
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781513523385.002

Growth performance and inclusiveness

• Ghana has achieved impressive development gains over the last decades, with rising incomes, lower poverty, and better health, education, and gender outcomes.
• Growth has recently become less inclusive, with high inequality and slower poverty reduction.
• A key lesson from growth accelerations in other countries is that it is crucial to achieve economies of scale. In most cases, rapid economic growth required achieving export success in specific sectors.

Authorities' strategy: "Ghana beyond Aid"

• The authorities are pursuing a “Ghana beyond Aid” development strategy centered around:
  • agricultural modernization
  • export-led industrialization
• Industrial policies should prioritize sectors that can export and innovate and where Ghana could achieve economies of scale.

Drivers for accelerating productivity growth

• Foster competition.
• Improve the business environment.
• Strengthen human capital.
• Take advantage of growing regional markets.
• Implement industrial policies that prioritize exportable and innovative sectors with potential for economies of scale.
• Consistent and predictable government policies to increase long-term investment and improve public spending effectiveness.

Focus areas and subject matter

• Agricultural sector
• Banking; Commercial banks; Nonperforming loans; Bank profitability; Bank intermediation cost; Banking system
• Business enterprises; Industry; Processing industries in Ghana; Value chain
• Financial institutions; Financial statements; Exposure to the commodity cycle; Gas assets; ISCR; Liability
• Public financial management (PFM); Public sector; Government balance sheet; Per capita income; Structural change; Sub-Saharan Africa

Content in this bundle

• Ghana: Selected Issues Paper; IMF Country Report No. 19/368; November 25, 2019
  • Ghana: Selected Issues Paper; IMF Country Report No. 19/368; November 25, 2019 (Markdown version)
  • Ghana: Selected Issues Paper; IMF Country Report No. 19/368; November 25, 2019 (PDF)