Background Paper Agriculture Mining Energy And Transport Sectors

Author : World Bank
Publisher :
ISBN 13 :
Total Pages : 258 pages
Book Rating : 4.F/5 ( download)

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Download or read book Ghana, Policies and Program for Adjustment written by World Bank and published by . This book was released on 1984 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report reviews macroeconomic trends in Ghana since 1970, identifies policies and programs for adjustment, and assesses prospects for the economy in the medium term. Interactions of poor domestic policies and adverse external events resulted in a downward economic spiral leading to the current critical situation. A gradual decline in per capita income has increased the incidence of absolute poverty and has been accompanied by a worsening of income distribution, growing unemployment and the emigration of skilled professionals. Careful sequencing and phasing of the adjustment process is essential and should entail three phases: (i) stabilization; (ii) rehabilitation; and (iii) liberalization and growth. The medium-term prospects are analyzed under two alternative scenarios, the "low case" and the "highcase". In sum, while much uncertainty remains, Ghana's growth can vary from abysmal to moderately rapid, depending on the combination of the extent to which the Government sticks to and implements its economic reform program and the extent to which donor support these efforts. Separate background papers discuss the cocoa sector; the agriculture, mining, energy, and transport sector; the manufacturing sector; and economic consequence of population growth.