Ghana has said it will seek financial aid from the International Monetary Fund (IMF) to help strengthen the West African nation's currency.

The cedi has fallen 40% against the US dollar this year, making it one of the world's worst-performing currencies.

Ghana, once seen as a shining example of economic strength in the region, is also struggling with high inflation.

The country last went to the IMF for help in 2009, when it secured a $600m (£360m), three-year aid package.

Despite being a major exporter of gold, oil and cocoa, Ghana is struggling with large current account and budget deficits.

Last week, the country's finance minister told the BBC the country would fix its currency problems itself and only go to the IMF as a last resort.

Many experts see the decision to go to the IMF as the first admission by the government that the economy is in bad shape.

'Meaningful difference'
Commentators said the move would force the government to take stronger action to tackle rising deficits and inflation.

"An IMF programme is likely to give to investors that additional level of confidence that fiscal consolidation might be pursued more seriously," said Razia Khan at Standard Chartered bank.

"However, news of potential talks with the IMF is unlikely to be enough, on its own, to make a meaningful difference to the cedi just yet."

Mark Asibey-Yeboah, spokesman for the opposition New Patriotic Party, said the IMF would insist on the government introducing measures to tackle inflation, including a freeze on wages.

"But all in all, the benefits will still outweigh the downside, so it's a step in the right direction," he said.

President is John Dramani Mahama.
Parliament has 230 members
GDP (Gross Domestic Product) is 14 billion USD (2008 estimate)
Agriculture employs 60 % of workforce and accounts for 37 % of GDP.
Export products are gold, cocoa, timber, bauxite manganese and electricity. Oil was found in 2007. ( I think it's groundnut oil )
Economy relies heavily on foreign assistance and remittances from Ghanaians abroad.
Currency is Ghana Cedi (GH¢)
Popular tourist destination

brownlords: Ashantiking, santaMaria, Oxygen, Wale and other gaynians, Oya come defend your poor country, before you spew trash please note your country's profile.

again.



http://www.ghanaweb.com/GhanaHomePage/country_information/

OXYGEN01: MUMU. Have you finished reading the profiles of
1.Your useless zoo country
2.Your useless parents
3.Your stinking self.

Finish them before you start posting profiles of other people.

brownlords:

Bruhaha, The ever dependent country is not capable of providing for herself, always run to the west for stipend, damn Ghana is a disgrace to west Africa, no wonder your useless president running mouth because Jonathan pulled out from one useless agreement they want the region to enter with Europe.

Poor country

OXYGEN01: U done? But I don't think all what u said changed the fact that nigeria is the most useless country on earth or......

Arosa: Why did they not go to Dangote for help or to the giant of Africa (Jonathan)?

Nobleval: Another E-war brewing .Mynd44,Seun,Obinoscopy....close this thread pls.

Lobolintin: Wey those ghanians e dogs

brownlords:

And yet your country depend on the useless country for everything? Hahahahahahs, apart from LGBT I doubt if there is anything Ghana can be good at, in every 5 Ghanaian male you find a gay. Very soon we shut the door and send the rest of you home, you can't continue to draw the region back, is either you learn to look inward and develop your economy like Nigeria is doing and stop depending on foreign aid or we buy sh1thole country soon. Ghana the only independent state of Nigeria, Ghana is the 37th state of Nigeria

brownlords:

On google trying to pull out pictures from their poor country to call it Nigeria, fear one f000 l among them, otunfur or whatever his name is

brownlords:

Don't insult dangote, Mikel obi would have been able to help the poor country or maybe 2face, calling on dangote or politician in Tinubu Jonathan class is a big insult, dangote can feed Ghana for one year without going to the bank

OXYGEN01: So now we don't depend on Europe but mumugerians ryt.Mumugerians in GHANA always complaining but there are also some fools like u claiming u controlling GHANA's economy.MUMU PEOPLE. U CANT EVEN CONTROL UR OWN USELESS COUNTRY.

MANGAM: Airforce1 Prophesied this yesterday to one Ghanian o

brownlords: Ashantiking, santaMaria, Oxygen, Wale and other gaynians, Oya come defend your poor country, before you spew trash please note your country's profile.

again.



http://www.ghanaweb.com/GhanaHomePage/country_information/

OXYGEN01: U done? But I don't think all what u said changed the fact that nigeria is the most useless country on earth or......

prophetone:

Wow Dangote, a single Nigerian is worth almost twice Ghana's GDP

major466: Ghana need support. Every country has it's own problems.

brownlords:

How can you compare dangote with Ghana, a Tinubu or otedola will be better, Dangote's secretary can feed the whole of Ghana home and abroad, dead and alive for 2 years. The country is poor

ghananotnaija: As a Ghanaian, there is no shame for one country to ask for help in times of need from other countries in today's world, unlike you Nigerians who struggle with an inferiority complex to other countries, especially Western countries.

stinggy:
so gayna's "superiority complex" is what's making her run helter-skelter for financial aids
cool story. tell me another pls