The Economic Development Of Ghana Essay -- essays research papers

The Economic Development of GhanaGhana is an African country located on the western side of Africa. Its neighbors be Burkina Faso to the north, Togo to the east, the Atlantic Ocean to the south, and Cote DIvoire 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 urban center of Accra has around 1, 673,000 people residing in it. There are the physical statistics, now onto the more interesting part.The countrys greatest strengths lie in its natural resources. In those terms, it is very rich. Cocoa, its biggest export, accounts for 15% of the worlds supply. Also its gold production, in recent years, its 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 outgrowth 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.Ghanas 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 abroad investors that come in only invest in the gold fields. The richest business, Ghana i...