Ghana reconsiders oil’s role in its economy as prices fall

WORLD OIL | The global slump in crude prices is giving Ghana a chance to rethink its dependence on a sector that was its key driver of economic growth in recent years.

Hit by the double-whammy of collapsing oil prices and the coronavirus pandemic, West Africa’s second-biggest economy is forecast to grow at its slowest pace in 37 years. This follows three years during which the oil sector more than doubled to fuel annual growth of 6.3% or more.

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