UPDATE 1-World Bank approves $535 mln package for Ghana

By Kwasi Kpodo ACCRA, June 30 (Reuters) - The World Bank approved a $535 million package for Ghana on Tuesday aimed at helping stabilise the economy knocked by the global financial crisis, the bank said. The amount includes $300 million in budget support for the West African country, which is widely seen as one of the best examples of economic reform and democracy in the region. A further $225 million would go toward improving the transport sector. The prices of both Ghana's main exports, gold and cocoa, have held up relatively well amid the global crisis. But the government of President John Atta Mills has been struggling with a cash crunch since taking office in January after defeating the former ruling party, which spent heavily before the election. 'The government is currently faced with a difficult macroeconomic... [read full story]                    

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