Front Matter

Front Matter

Author(s):
Joachim Harnack, Sérgio Leite, Stefania Fabrizio, Luisa Zanforlin, Girma Begashaw, and Anthony Pellechio
Published Date:
November 2000
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    © 2000 International Monetary Fund

    Production: IMF Graphics Section

    Figures: Lai Oy Louie

    Typesetting: Alicia Etchebarne-Bourdin

    Cataloging-in-Publication Data

    Ghana: economic development in a democratic environment/Sérgio Pereira Leite…[et al.]–Washington, D.C.: International Monetary Fund, 2000.

    • p. cm. —(Occasional paper; ISSN 0251–6365; 199)

    • Includes bibliographical references.

    • ISBN 1–55775–960–X

    1. Ghana—Economic conditions. 2. Finance—Ghana. I. Pereira Leite, Sérgio. II. Occasional paper (International Monetary Fund); no. 199.

    HC1060.G4273 2000

    338.9667–dc21

    00—050608

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    Contents

    The following symbols have been used throughout this paper:

    • … to indicate that data are not available; n.a. to indicate not applicable;

    • — to indicate that the figure is zero or less than half the final digit shown, or that the item does not exist;

    • – between years or months (e.g., 1998–99 or January-June) to indicate the years or months covered, including the beginning and ending years or months;

    • / between years (e.g.. 1998/99) to indicate a crop or fiscal (financial) year.

    “Billion” means a thousand million.

    Minor discrepancies between constituent figures and totals are due to rounding.

    The term “country,” as used in this paper, does not in all cases refer to a territorial entity that is a state as understood by international law and practice; the term also covers some territorial entities that are not States, but for which statistical data are maintained and provided internationally on a separate and independent basis.

    Abbreviations Used

    ADB

    Agricultural Development Bank

    BHC

    Bank for Housing and Construction

    BPEMS

    Budget and Public Expenditure Management System

    CPI

    Consumer Price Index

    CWIQ

    Core Welfare Indicators Questionnaire

    DACF

    District Assemblies Common Fund

    DIC

    Divestiture Implementation Committee

    ERP

    Economic Reform Program

    GCB

    Ghana Commercial Bank

    GLSS

    Ghana Living Standards Survey

    GNPC

    Ghana National Petroleum Corporation

    GUSS

    Ghana Universal Salary Structure

    IMCPR

    Inter-Ministerial Committee on Poverty Reduction

    IPPD

    Integrated Personnel and Payroll Database

    NCD

    National Commission for Democracy

    NDPC

    National Development Planning Commission

    NIB

    National Investment Bank

    NIRP

    National Institutional Renewal Program

    NOC

    National Oversight Committee

    NPRP

    National Poverty Reduction Program

    NGO

    nongovernmental organization

    PAMSCAD

    Program of Action to Mitigate the Social Costs of Adjustment

    PBC

    Produce Buying Company

    PSAC

    Private Sector Adjustment Credit

    PUFMARP

    Public Financial Management Reform Program

    PUSERMOS

    Public Sector Reinvention and Modernization Strategy

    REER

    real effective exchange rate

    SAPRI

    Structural Adjustment Participatory Review Initiative

    SDR

    special drawing right

    SEC

    State Enterprise Commission

    SIF

    Social Investment Fund

    SSNIT

    Social Security and National Insurance Trust

    TCOP

    Technical Committee on Poverty

    TWG-PR

    Thematic Group on Poverty Reduction

    UNDP

    United Nations Development Programme

    VAT

    value-added tax

    Preface

    This occasional paper is based on staff background papers prepared for the 1998 and 1999 consultations between the International Monetary Fund and Ghana. The information in this occasional paper primarily pertains to the period since Ghana’s return to multiparty democracy in 1992 through December 1999. The authors would like to acknowledge the support and encouragement of the Ghanaian authorities and the IMF Executive Director for Ghana, Abbas Miraihor. The paper was prepared by a staff team led by Sérgio Pereira Leite and Anthony Pellechio and composed of Girma Begashaw, Stefania Fabrizio, Joachim Harnack, and Luisa Zanforlin. The authors would like to acknowledge the contributions of Andrew Mvumbe, T. Kanai, Ritha Khemani, Périn Saint-Ange, and Dev Kar, as well as the comments of Paul Acquah, Rocio Castro, GuenterHeidenhof, and Amor Tahari and the research assistance of Luca Bandiera. They would like to thank Maureen Burke and John Maynard for invaluable assistance.

    The opinions expressed in the paper are those of the authors and should not be construed as necessarily representing the views of the Government of Ghana or the International Monetary Fund.

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