Ghana’s agrifood system structure and drivers of transformation
Ghana experienced rapid economic growth with an annual GDP growth rate of 6.6 percent between 2009 and 2019 (GSS 2023). Restrictive COVID-19 policy measures in 2020 caused a slowdown in growth (Amewu et al. 2020), with the rate falling to just 0.5 percent in that year (World Bank 2023a). Economic gr...
| Autores principales: | , , , , |
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| Formato: | Brief |
| Lenguaje: | Inglés |
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International Food Policy Research Institute
2023
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| Acceso en línea: | https://hdl.handle.net/10568/131424 |
| _version_ | 1855540593542823936 |
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| author | Diao, Xinshen Ellis, Mia Pauw, Karl Randriamamonjy, Josee Thurlow, James |
| author_browse | Diao, Xinshen Ellis, Mia Pauw, Karl Randriamamonjy, Josee Thurlow, James |
| author_facet | Diao, Xinshen Ellis, Mia Pauw, Karl Randriamamonjy, Josee Thurlow, James |
| author_sort | Diao, Xinshen |
| collection | Repository of Agricultural Research Outputs (CGSpace) |
| description | Ghana experienced rapid economic growth with an annual GDP growth rate of 6.6 percent between 2009 and 2019 (GSS 2023). Restrictive COVID-19 policy measures in 2020 caused a slowdown in growth (Amewu et al. 2020), with the rate falling to just 0.5 percent in that year (World Bank 2023a). Economic growth rebounded to 5.4 percent in 2021, but this growth was fueled by excessive government borrowing to finance an ambitious public infrastructure campaign and ushered in a severe financial crisis in Ghana. By 2022, the fiscal deficit had reached almost 10 percent of GDP and the total debt-to-GDP ratio had skyrocketed to 90 percent, resulting in rampant inflation (32 percent year-on year), a doubling of interest rates (from 14 to 28 percent), and a sharp currency depreciation (40 percent) (World Bank 2023b; Naadi 2023). Economic growth slowed to 3.2 percent in 2022 and is projected to decline further to 1.6 percent in 2023 (World Bank 2023a). Although President Akuffo-Addo blamed “malevolent forces” (Financial Times 2023)—including the global commodity market shock caused by Russia’s invasion of Ukraine, which by some accounts had only a minimal effect on Ghana’s economy (Arndt et al. 2023; Diao and Thurlow 2023)—the economic situation eventually forced the government to agree to an IMF bailout of US$3 billion in 2023. This will be in force for three years. |
| format | Brief |
| id | CGSpace131424 |
| institution | CGIAR Consortium |
| language | Inglés |
| publishDate | 2023 |
| publishDateRange | 2023 |
| publishDateSort | 2023 |
| publisher | International Food Policy Research Institute |
| publisherStr | International Food Policy Research Institute |
| record_format | dspace |
| spelling | CGSpace1314242025-11-06T04:45:07Z Ghana’s agrifood system structure and drivers of transformation Diao, Xinshen Ellis, Mia Pauw, Karl Randriamamonjy, Josee Thurlow, James agrifood systems value chains markets agriculture labour productivity off-farm employment poverty diet quality jobs development gross national product horticulture maize rice Ghana experienced rapid economic growth with an annual GDP growth rate of 6.6 percent between 2009 and 2019 (GSS 2023). Restrictive COVID-19 policy measures in 2020 caused a slowdown in growth (Amewu et al. 2020), with the rate falling to just 0.5 percent in that year (World Bank 2023a). Economic growth rebounded to 5.4 percent in 2021, but this growth was fueled by excessive government borrowing to finance an ambitious public infrastructure campaign and ushered in a severe financial crisis in Ghana. By 2022, the fiscal deficit had reached almost 10 percent of GDP and the total debt-to-GDP ratio had skyrocketed to 90 percent, resulting in rampant inflation (32 percent year-on year), a doubling of interest rates (from 14 to 28 percent), and a sharp currency depreciation (40 percent) (World Bank 2023b; Naadi 2023). Economic growth slowed to 3.2 percent in 2022 and is projected to decline further to 1.6 percent in 2023 (World Bank 2023a). Although President Akuffo-Addo blamed “malevolent forces” (Financial Times 2023)—including the global commodity market shock caused by Russia’s invasion of Ukraine, which by some accounts had only a minimal effect on Ghana’s economy (Arndt et al. 2023; Diao and Thurlow 2023)—the economic situation eventually forced the government to agree to an IMF bailout of US$3 billion in 2023. This will be in force for three years. 2023-07-07 2023-08-08T09:32:53Z 2023-08-08T09:32:53Z Brief https://hdl.handle.net/10568/131424 en Open Access application/pdf International Food Policy Research Institute Diao, Xinshen; Ellis, Mia; Pauw, Karl; Randriamamonjy, Josee; and Thurlow, James. 2023. Ghana’s agrifood system structure and drivers of transformation. Agrifood System Diagnostics Country Series 5. https://doi.org/10.2499/p15738coll2.136788. |
| spellingShingle | agrifood systems value chains markets agriculture labour productivity off-farm employment poverty diet quality jobs development gross national product horticulture maize rice Diao, Xinshen Ellis, Mia Pauw, Karl Randriamamonjy, Josee Thurlow, James Ghana’s agrifood system structure and drivers of transformation |
| title | Ghana’s agrifood system structure and drivers of transformation |
| title_full | Ghana’s agrifood system structure and drivers of transformation |
| title_fullStr | Ghana’s agrifood system structure and drivers of transformation |
| title_full_unstemmed | Ghana’s agrifood system structure and drivers of transformation |
| title_short | Ghana’s agrifood system structure and drivers of transformation |
| title_sort | ghana s agrifood system structure and drivers of transformation |
| topic | agrifood systems value chains markets agriculture labour productivity off-farm employment poverty diet quality jobs development gross national product horticulture maize rice |
| url | https://hdl.handle.net/10568/131424 |
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