Abstract: | Rationale for import programming in Ghana after 1965 was that the country had suffered serious structural maladjustments as a result of previous economic policies, which made it difficult to rely upon the free play of market forces to ensure a rational allocation of available exchange. Import programming continued after the devaluation of July 1967. Drawn within the constraints of acute foreign exchange shortage, the import program aimed at: providing a minimum of essential consumer goods; allowing a level of raw materials and spare parts consistent with planned utilization of the existing productive, capacity of the economy; ensuring imports of capital goods in an amount consistent with a planned target of investment expenditures aimed at increasing existing capacity. Discussed is Ghana's experience in this matter. Tables, ill. |