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Ghana’s economy has undergone significant transformations over the past two decades, shaped by fluctuating inflation rates and increasing national debt.

These factors have played a crucial role in determining the country’s economic stability, investment climate, and overall quality of life.

This article examines Ghana’s inflation and debt trajectory from 2000 to 2023 and compares it with other Anglophone West African nations like Nigeria, Sierra Leone, Liberia, and The Gambia to provide a broader perspective on regional economic trends.

The Role of Inflation and National Debt in Ghana’s Economy

Inflation and national debt are key macroeconomic indicators that influence a country’s financial stability. Inflation refers to the rate at which the prices of goods and services rise, affecting consumers’ purchasing power. National debt, on the other hand, is the total borrowing by a government to finance expenditures beyond its revenue-generating capacity.