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Ghana - Economic memorandum 1967-1968 (English)

The economic memorandum, Ghana 1967-68 was prepared based on the findings of an economic mission that was present in Ghana in November and December of 1967. It was compiled for the Ghana Aid Meeting and was meant to supplement other information provided both by the government of Ghana and the IMF, thus, it might lack certain items of analysis found in a more detailed report. The summary states that the government has over the last two years, enacted a policy bringing Ghana back from an extreme fiscal crisis to a place of eventual economic growth. While the policy has been unpopular, the government’s courage in staying the course has met with a measure of success. Inflation has been brought under control with a program of reduced borrowing, devaluation of the currency, and disciplined austerity. Such a program, while it has not met the government’s hope for investment targets, it has brought Ghana’s balance of payments of situation under control. However, the authorities have slighted agricultural development in favor of industrial development, and the encouragement of foreign imports still has the balance of payments situation in a position where it does constrain the economy. The recommendations of the report suggest that further encouragement of private investment in development projects will continue to allow Ghana to further develop both her industrial and agricultural sectors and avoid economic stagnation. The memorandum then goes into detail about development prospects in the agricultural and industrial sectors, and discusses the 1967/68 development budget. It then goes on to discuss prospects for 1968 in both Ghana’s Import Program and encouraging external financial investment.


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    Pre-2003 Economic or Sector Report

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    Ghana - Economic memorandum 1967-1968

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Ghana - Economic memorandum 1967-1968 (English). Africa series ; no. AF 72 Washington, D.C. : World Bank Group.