Ghana’s economy demonstrating resilience amid global economic downturn – S&P Global 

” The agency also noted a significant improvement in Ghana’s external position because of its success in capitalising on high gold prices and formalising small-scale mining production.

The rating agency noted that Ghana had historically struggled to maintain fiscal prudence through political and economic cycles, saying: “It has participated in 18 IMF programmes and, in the mid-2000s, benefited from debt relief of nearly $7.

However, it noted that Ghana’s susceptibility to terms-of-trade shocks was rising because gold exports now accounted for more than 60 per cent of export receipts.