GHANA: A framework for progress

A SUPPLEMENT TO EUROMONEY/APRIL 1998: GHANA - THE SEARCH FOR INVESTMENT

Ghana's economic strategists are fighting hard to regain credibility after almost four years of drift and slippage. They are having some success. The IMF, having acknowledged that underlying fiscal performance is improving and inflation is coming down, has again given its backing - a key signal to other donors and investors.

US president Bill Clinton's decision to kick off his 11-day African tour with a visit to Ghana on March 23 was another plus point. "The president has chosen Ghana to be one of just five African countries which are being held up as role models for economic liberalization and democratic governance," said Ghana's communications minister Ekwow Spio-Garbrah. "If the US president enters Africa through Ghana, then I think other [foreign] businesses can feel good about using Ghana as a gateway."

Clinton was equally bullish, drawing attention to legislation before...