HO, WIPO, WMO, WTO

Diplomatic representation: Ambassador Eric K. OTOO; Chancery at
2460 16th Street NW, Washington DC 20009; telephone (202) 462-0761;
there is a Ghanaian Consulate General in New York;
US--Ambassador Raymond C. EWING; Embassy at Ring Road East, East of
Danquah Circle, Accra (mailing address is P. O. Box 194, Accra);
telephone 775347 through 775349

Flag: three equal horizontal bands of red (top), yellow, and green with a
large black five-pointed star centered in the gold band; uses the popular
pan-African colors of Ethiopia; similar to the flag of Bolivia which has a coat
of arms centered in the yellow band

- Economy
Overview: Supported by substantial international assistance, Ghana
has been implementing a steady economic rebuilding program since 1983.
Good harvests in 1988 featured the 6% growth in GNP. Moves toward privatization
and relaxation of government controls continued in 1988-89, although at a
slower-than-expected pace. In 1988 service on the $2.8 billion debt was
equivalent to 75% of export earnings. As Ghana obtains concessional loans
and pays off high-interest debt, however, debt service is expected to fall
below 30% of export earnings in the early 1990s. The economic rebuilding
program has both helped and harmed the manufacturing sector, for example,
by improving the supply of raw materials and by increasing competition from
imports. The long-term outlook is favorable provided that the political
structure can endure the slow pace at which living standards are improving
and can manage the problems stemming from excessive population growth.

GNP: $5.2 billion, per capita $400; real growth rate 6% (1988)

Inflation rate (consumer prices): 32.7% (1988)

Unemployment rate: 26% (April 1987)

Budget: revenues $769 million; expenditures $749 million, including
capital expenditures of $179 million (1988 est.)

Exports: $977 million (f.o.b., 1987);
commodities--cocoa 60%, timber, gold, tuna, bauxite, and aluminum;
partners--US 23%, UK, other EC

Imports: $988 million (c.i.f., 1987);
commodities--petroleum 16%, consumer goods, foods, intermediate goods,
capital equipment;
partners--US 10%, UK, FRG, France, Japan, South Korea, GDR

External debt: $3.0 billion (December 1989 est.)

Industrial production: growth rate 0.5% in manufacturing (1987)

Electricity: 1,172,000 kW capacity; 4,110 million kWh produced,
280 kWh per capita (1989)

Industries: mining, lumbering, light manufacturin