Tuesday, February 2, 2010

Republic of Ghana

The Republic of Ghana, located in West Africa, borders Côte d'Ivoire (Ivory Coast) to the west, Burkina Faso to the north, Togo to the east, and the Gulf of Guinea to the south. The word Ghana means "Warrior King" and derives from the Ghana Empire.

Ghana was inhabited in pre-colonial times by a number of ancient predominantly Akan Kingdoms, including the Akwamu on the eastern coast, the inland Ashanti Empire and various Fante and non-Akan states, like the Ga and Ewe, along the coast and inland. 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.

The Gold Coast achieved independence from the United Kingdom in 1957, becoming the second African nation , after Sudan in 1956, to do so and the name Ghana was chosen for the new nation to reflect the ancient Empire of Ghana, which once extended throughout much of west Africa. Ghana is a member of many international organizations including the Commonwealth of Nations, the Economic Community of West African States, the African Union and the United Nations. Ghana is the second largest producer of cocoa in the world and is also home to Lake Volta, the largest artificial lake in the world


Ghana intro, Ghana British colony

Formed from the merger of the British colony of the Gold Coast and the Togoland trust territory, Ghana in 1957 became the first sub-Saharan country in colonial Africa to gain its independence. Ghana endured a long series of coups before Lt. Jerry RAWLINGS took power in 1981 and banned political parties. After approving a new constitution and restoring multiparty politics in 1992, RAWLINGS won presidential elections in 1992 and 1996, but was constitutionally prevented from running for a third term in 2000. John KUFUOR succeeded him and was reelected in 2004. John Atta MILLS took over as head of state in early 2009.


Ghana economy, Ghana per capita

Well endowed with natural resources, Ghana has roughly twice the per capita output of the poorest countries in West Africa. Even so, Ghana remains heavily dependent on international financial and technical assistance. Gold and cocoa production, and individual remittances, are major sources of foreign exchange. Oil roduction is expected to expand in late 2010 or early 2011. The domestic economy continues to revolve around agriculture, which accounts for about 35% of GDP and employs about 55% of the work force, mainly small landholders. Ghana signed a Millennium Challenge Corporation (MCC) Compact in 2006, which aims to assist in transforming Ghana's agricultural sector. Ghana opted for debt relief under the Heavily Indebted Poor Country (HIPC) program in 2002, and is also benefiting from the Multilateral Debt Relief Initiative that took effect in 2006. Thematic priorities under its current Growth and Poverty Reduction Strategy, which also provides the framework for development partner assistance, are: macroeconomic stability; private sector competitiveness; human resource development; and good governance and civic responsibility. Sound macro-economic management along with high prices for gold and cocoa helped sustain GDP growth in 2008 and 2009.