Ghana

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.

Economical characteristics

 * Currency: Ghanaian cedi (ISO code: GHS)
 * Central bank discount rate: 17% (31 December 2008)
 * Commercial banks lending rate: NA%
 * Stock of money (M1): $NA (31 December 2008)
 * Quasi money (with M1 makes M2): $NA (31 December 2008)

Notable events:

 * Banking crisis: 1982-1989, 1997
 * Years in inflation: 45.3% (share of years 1957-2009 with annual inflation above 20 per cent per annum)
 * Public default: 1966, 1968, 1970, 1974, 1987 (external), 1979, 1982 (domestic)

Links

 * Ghana on Wikipedia
 * Central bank of Ghana
 * Studies from the Library of Congress (1986-1998)
 * BBC country profile