The Economic Development Of Ghana

explanatory Essay
1004 words
1004 words

The Economic Development of Ghana
Ghana is an African country located on the western side of Africa. Its neighbors are Burkina Faso to the north, Togo to the east, the Atlantic Ocean to the south, and Cote D'Ivoire to the west. It has a population of 18,100, 703 and a population density of 197 people per square mile. Ghana is 92,098 square miles and English is its official language. The capital city of Accra has around 1, 673,000 people residing in it. There are the physical statistics, now onto the more interesting part.

The country's greatest strengths lie in its natural resources. In those terms, it is very rich. Cocoa, its biggest export, accounts for 15% of the world's supply. Also its gold production, in recent years, it's exported as many as one million fine ounces. Ghana also has a good supply of bauxite, diamonds, coffee, rice, cassava, timber and rubber. Moreover, since 1983, the economy has steadily grown. With economic recovery policies intact, the economy has raised 5% a year since 1983. Tourism also is growing within Ghana. Tourist rates are increasing also. With all these cash crops, costly goods, and economic restructuring, one would wonder why they need assistance at all.
Ghana's weaknesses though, almost outweigh the strengths. Like most countries in Africa, Ghana is in heavy debt since its independence in 1957. It also suffers from high budget deficits. All of the foreign investors that come in only invest in the gold fields. The richest business, Ghana i...

In this essay, the author

  • Explains that ghana is an african country located on the western side of africa. its neighbors are burkina faso, togo, the atlantic ocean and cote d'ivoire.
  • Explains that ghana's greatest strengths lie in its natural resources, including cocoa, gold, bauxite, diamonds, coffee, rice, cassava, timber, and rubber.
  • Opines that ghana's weaknesses outweigh its strengths. it is in heavy debt since its independence in 1957 and suffers from high budget deficits.
  • Explains that the north is poor, while the urban south is richer because of the two rainy seasons.
  • Explains that ghana is rich in natural resources and would be a good place for economic help because of its close neighbors.
  • Explains that the history of ghana and its politics is violent and turbulent. rawlings imposed an austerity plan that helped control inflation in the country and received financial support from the un.
  • Opines that ghana needs economic knowledge to repay debts and earn capital. they believe that education is the start of everything.
  • Describes the short and long-term goals of a country, such as getting 30 educators to train civilians and other teachers, reducing pollution and deforestation, and raising literacy rates.
  • Opines that ghana could be a powerful small country with its high variety of natural resources and arable land. if plans go extremely well, it could start handing out loans.
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