Why is ghana a third world country

Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. Skip to content by Posted on Contents 1 Which countries are capitalist in Africa? Although Ghana is touted as a middle-income country, every other statistic points to a country of lower-income standing, Prof. His lecture sought to address the question of whether at 56, Ghanaians are really capable of managing their own affairs as Dr.

Kwame Nkrumah had claimed. In terms of global competitiveness, he said it is? The World Bank backed up the claim in , saying the country had moved from a low-income to a? The bank included Ghana among six new entrants? Adei, who is a development economist, said the country should quit being excited over its middle-income status and pay attention to addressing the challenges on the ground.

In fact, the real measure of our performance in the 56 years [of independence] is that we will not meet half of the Millennium Development Goals MDGs by ? The Professor of Economics and Leadership at the Pentecost University College said he has no doubt whatsoever that Ghanaians are capable of managing their own affairs, except that they have?

But why is that so? According to the World Bank and IMF estimates, Ghana is the world fastest growing economy in with a growth rate of 8. As a result of this figure, Ghana is no longer a Third World country. Expectations are that the continued rebasing of its economy will raise the status of the country above the present low, middle-income economic status.

Presently the country is witnessing gradual expansion of its middle class, burgeoning telecoms and construction sectors supported by significant investments in gold and oil production. Ghana is position 4 in Africa by Global Peace Index.

Image: pixabay. Read also 15 of the most peaceful countries in Africa and their global ranking in Read also List of top 10 richest companies in Ghana Read also Festivals in Ghana and their dates. Read also Facts following the ban on the use of foreign currencies by Zimbabwe. What is a Third World country? That depends upon when in history you ask the question. The meaning of "third world" has evolved considerably since it was first used more than half a century ago.

Originally coined by French historian Alfred Sauvy in , "Third World" was part of the "three worlds" label system used to describe a country's political alliances.