At independence, Ghana was promised a bright future. Its economy was one of the strongest on the continent: rich
in land, gold and forests and well-established as the world’s leading cocoa producer. Despite these assets, subsequent
economic growth was slow, and even reversed by the 1970s.
Major reforms were carried out in the 1980s; economic growth resumed and has been sustained. At the same time,
Ghana has become one of the most politically stable countries in Africa, with elections regularly leading to changes in
leadership. The country is now emerging as an African success story: it should soon become the first country on the
continent to achieve the first Millennium Development Goal (MDG) of halving its national poverty rate against its 1990
level. Indeed, Ghana is now aiming to reach middle-income status before the end of the decade.