Colonial Economies - Socialist Strategies - Ghana

Question 1

Who was Ghana’s Prime Minister until 1966?

Answer 1

Kwame Nkrumah

Question 2

What happened to Ghana’s economy the first 25 years after independence?

Answer 2

Next 25 years following independence saw Ghana’s economy shrink by 1.5% pa

By 1982 the economy was half the size it had been in 1957

(Rothschild; Hatchful)

Question 3

What were some of the reasons for Ghana’s initial economic failure?

Answer 3

1) Post colonial governments contributed to exploit farmers the same way colonial rulers had - by paying below the price for farmers’ produce
2) World cocoa prices fell from 1977
3) Hyperinflation

Question 4

What happened to growers’ real earning?

What else held back the economy?

Who’s study is this taken from?

Answer 4

Growers’ real earnings fell by 60%

Production collapsed
- 557, 000 tonnes in 1964 to 159, 000 tonnes in 1983

Tony killock