A model of democracy in West Africa
Ghana is a model country of democracy in Africa. It has held democratic elections since 1992; changes in government generally go smoothly and demonstrate the country's democratic strength. The republic previously referred to as the "Gold Coast" due to its natural resources is a political and economic pacesetter in West Africa. Per-capita economic output has been on the rise for years, and the share of the population living below the poverty line has fallen from 52 % at the beginning of the nineties to now less than 30 %. Ghana's economy is heavily dependent on the export of raw materials, making it susceptible to fluctuations on the global market. Therefore the new government of President Akufo-Addo strives for an increased domestic value creation, whereas the private sector is to play a key role. Regarding the present macroeconomic challenges the Ghanaian government continues to work closely with the International Monetary Fund.