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20 EMERGING MARKETS GHANA
After many years of consistent growth, Ghana’s economy experienced a signi cant downturn in 2013, driven by a growing public de cit, high in ation and a weakening currency.
However, four years on and Ghana has found itself emerging from this economic setback in a convincing way. Pre-2013 growth  gures have been restored after the national economy was forti ed by a $918 million loan from the IMF in 2015.
This loan package, along with a series of astute macroeconomic policies, has largely stabilised the economy, with Ghana’s GDP growth set to reach 7.5% in 2018, according to latest projections.
In addition to the resurgent economy, Ghana enjoys one of the most stable political environments in Africa, with democracy
a well-entrenched value within the establishment since its transition to multi- party democracy in 1992.
Nana Akufo-Addo was elected in the most recent presidential vote at the end of 2016, concluding a peaceful election period, which served to con rm the strength of democracy in a region often troubled by dictators and coups.
Upon taking o ce, the President pledged
to further strengthen Ghana’s economy by alluring foreign investors with reduced business taxes.
Speaking at his o cial inauguration in Black Star Square, Accra, the 72-year-old said: “We will reduce taxes to recover the momentum of our economy. Ghana is open for business again.”
Ghana enjoys a highly diversi ed economy, with key exports deriving from the agriculture


































































































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