Ghana - Balance of payments

The US Central Intelligence Agency (CIA) reports that in 2000 the purchasing power parity of Ghana's exports was $1.94 billion while imports totaled $2.83 billion resulting in a trade deficit of $890 million.

The International Monetary Fund (IMF) reports that in 2000 Ghana had exports of goods totaling $1.9 billion and imports totaling $2.74 billion. The services credit totaled $504 million and debit $597 million. The following table summarizes Ghana's balance of payments as reported by the IMF for 2000 in millions of US dollars.


Current Account -413
Balance on goods -843
Balance on services -93
Balance on income -108
Current transfers 631
Capital Account -1
Financial Account 266
Direct investment abroad
Direct investment in Ghana 110
Portfolio investment assets
Portfolio investment liabilities
Other investment assets 41
Other investment liabilities 115
Net Errors and Omissions -112
Reserves and Related Items 259
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User Contributions:

Given that Ghana is now relatively politically stable, the country must put mechanisms to ensure that it achieves a favorable balance of payment. a negative balance of payment has hampered development for a long time and is likely to wash away all economic gains attained so far from a democratic regime.
Please,i want to know the relationship between current account and capital account as at 2ooo
hi,i just want know the avantages and desavantages in short term

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