Bank of Ghana - Annual Report 2004

According to the Bank of Ghana's Annual Report 2004, the Ghanaian economy made a considerable degree of progress in 2004.

It recorded the highest growth rate in twenty years, inflation declined significantly, government finances improved and international reserves reached record levels. These positive developments were the result of a favourable external environment which helped to keep commodity prices up (although high oil prices eroded some terms of trade gains) and prudent domestic

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