 Ghana increases salaries by 30% amid economic woes. Ghana has a mixed economy with both private and government participation. The country's main economic drivers are its natural resources, particularly gold, cocoa, and oil. The agriculture sector also plays an important role in the economy and employs a significant portion of the population. The services sector, including financial services, telecommunications, and tourism is also growing. The government of Ghana has implemented economic reforms in recent years to improve the business environment and attract foreign investment. These include measures to reduce inflation, improve the fiscal deficit, and liberalize the trade and investment regimes. Ghana is currently facing economic challenges, including a high rate of inflation, which is currently at a record 50.3%. This is a significant concern for the country, which was once described as Africa's shining star by the World Bank. In an effort to address these economic issues, Ghana's government and trade unions have announced that they have agreed to increase the salaries of all public servants by 30% for 2023. This increase is intended to help reduce debt and tackle inflation in the country. The decision was made after trade unions representing public service employees began negotiating salary rises with the government in November. The government of Ghana has also taken other measures to try to stabilize the economy. In March, the government announced sweeping spending cuts, including a lowering of minister's salaries to reduce the deficit, contain inflation, and slow the slide of the local currency. Despite these measures, the local currency, the CD, dropped heavily against the U.S. dollar last year as government spending cuts and central bank interest rate hikes failed to tame inflation. In addition, Ghana secured a staff level agreement with the IMF for $3 billion, three-year support package in December. However, the country needs to restructure its debt to access the funds. The government also launched a domestic debt exchange program last month and later said it would default on nearly all of its 28.4 billion dollar of external debts. The government also asked to restructure its bilateral debt under the G20 common framework platform this week as it continues to seek ways to address its economic challenges. These are some of the reasons why Ghana economy keep rising and among the best in Africa.