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Background

In the five decades of its independence from British rule, Ghana has gone through different cycles of growth, mostly marked by poor economic performance.

The high degree of optimism that swept through the nation in the days leading to, and up till, independence began to fade as early as the mid-1960s.

The economic situation was further compounded by military coup d’etats, creating an enormous political instability through to the mid-1980s.  

Consequently, national economic policies adopted during this period were either not well-thought out, or so short-lived that it made very little impact.

At best, the economy seemed to be “muddling through” during this period.

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