Well
endowed with natural resources, Ghana has twice the per capita output
of the poorer countries in West Africa. Even so, Ghana remains somewhat
dependent on international financial and technical assistance as well as
the activities of the large number of Ghanaians living and working
abroad. Gold, timber, cocoa, diamond, bauxite, and manganese exports are
major sources of foreign exchange. An oilfield which is reported to
contain up to three billion barrels of light oil was discovered in
2007.This discovery may not only help offset the current high cost of
oil imports but may in time generate large revenues for the country.
The
domestic economy continues to revolve around subsistence agriculture,
which accounts for 50% of GDP and employs 85% of the work force, mainly
small landholders.
Ghana has made good economic progress under
a three-year structural adjustment program in cooperation with the IMF.
Ghana remains one of the more economically sound countries in all of
Africa.
United States
President Barack Obama has had high praise for Ghana’s economic
transformation and democratic credentials, pointing out that while it is
important and right to focus on Africa’s challenges, it is equally
important focus on the good news.
“There are sometimes --
there's sometimes a tendency to focus on the challenges that exist in
Africa -- and rightfully so. But I think it’s important for us to also
focus on the good news that’s coming out of Africa, and I think Ghana
continues to be a good-news story,” Obama said after a meeting with
President John Evans Atta Mills at the White House.
President
Mills is guest of Obama in a reciprocal gesture after the US President
chose Ghana for his first visit to the continent in 2009 following his
historic election.
In statements posted to the White House
website, the two presidents engaged in a bilateral meeting in the Oval
Office discussing issues of mutual concern that also took in their
re-election bids this year amidst assurances that notwithstanding their
fate at the polls, they would take steps to ensure credible and
transparent elections so the wishes of their respective peoples relative
to leadership choices will be respected.
Said President Obama
of Ghana; “This is a country that has established a strong tradition of
democracy, and President Mills and I were comparing notes -- we’re both
up for reelection -- but what we agreed to is the fact that regardless
of who wins and who loses, our countries' commitment to making sure that
the people have a voice and determine who it is that represents them in
their government is what gives both our countries such strength.
“And
Ghana has proven, I think, to be a model for Africa in terms of its
democratic practices. And I very much appreciate the efforts that
President Mills has taken not only to ensure fair and free elections,
but also to root out corruption, increase transparency, make sure that
government is working for the people of Ghana and not just for the few.
So we’re very appreciative of those efforts.
“In addition,
Ghana has become a wonderful success story economically on the
continent. In part because of the initiatives of President Mills, you’ve
seen high growth rates over the last several years. Food productivity
and food security is up. There’s been strong foreign investment. That
trade and investment benefits folks back home here in the United States
as well.”
While expressing hope that the great level of
cooperation between Ghana and the US will continue into the future,
President Obama enumerated a number of activities he said aimed to
create thousands of mutually beneficial jobs. They include funding under
the Millennium Challenge Corporation, the Feed the Future agriculture
programme under which the US government is assisting with large scale
farming, power generation and credit to small and medium-size
businesses.
“Ghana has also been a leader, a responsible actor
on the international stage, working in the region to help stabilize and
reduce conflict there. They’ve been strong partners with us in the
United Nations on a whole range of international issues. And as
important, President Mills has consistently spoken out on behalf of
human rights and making sure that everyone is treated fairly and not
discriminated against inside of his country.”
He recalled with
warmth the “extraordinary hospitality” that the Mills administration
and the people of Ghana showed not only him, “but also Michelle and
Sasha and Malia” while visiting Ghana and said he looked forward to
another opportunity to visit Ghana once again.
On his part
President Mills said Ghana and the United States share the same values
of democracy which the people have come to accept as the only way.
“And
democracy goes with development. And if you come to Africa, our people
are yearning for only one thing -- improvement in their daily lives. And
there can be no development without peace, which means that we should
do the things which will ensure that there is peace and that there’s no
room for conflict.
“The United States has been a model, and
I’m happy that we are cooperating with one another on all kinds of
fronts and they are yielding results. And I was telling Mr. President
that when one of the roads was commissioned, and it was built with money
provided by the MCC under our first compact, you should have seen the
joy on the faces of the Ghanaians because there had been a radical
transformation in their lives. I mean that is what governance is all
about -- to see people happy because they now have what they did not
have.”
He reiterated the challenge of elections in December,
saying “we are going to ensure that there is peace before, during, after
the election, because when there is no peace, it’s not the elitists who
will suffer, it’s the ordinary people who have elected us into office.
“So
we have a big challenge, and we know that some of our friends in Africa
are looking up to us, and we dare not fail them. I have no doubt at all
that we have embarked on a useful journey, and we’ll get to the very
end. I told you that both of us are facing elections, but our ships will
be able to sail safely to their final destination, I want to assure
you.
“So thanks a lot for the wonderful reception. We will go
back with happy memories. And of course, this will also reassure our
people that the kind of cooperation we started -- from our first
President -- is growing from strength to strength.”
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