The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
This Selected Issues paper examines competitiveness and the equilibrium real exchange rate for Ghana. It estimates a behavioral equilibrium exchange rate model for Ghana to establish to what extent real effective exchange rate (REER) movements have been driven by an adjustment to its equilibrium values, consistent with changing fundamentals. The paper discusses measures of Ghana's external competitiveness other than the gap between the actual and the estimated equilibrium REER. Achievements, challenges, and priorities in the areas of public financial management, wage policy, tax administration, and tax policy are also described in detail.