text: tl3. rn August 1983, the rnternational Monetary Fund (IMF) approved a one-yearstand-by agreement of about $252 mirlion and provided an additionar gr26.75 millionunder its Compensating Financing Facility (CFF). A second stand_by arrangement forspecial drawing rights (SDR) of lg0 million ($177 million) h,as approved for Ghanain August 1984 and an additional amount of sDR 5g.2 million ($57.2 million) underits cFF' The Fundrs programme focused on the restructuring of prices, on improvingthe financial position of the public sector and on increasing tire volume of importsto promote activity. Three key elements in the programme weres (a) flexibledomestic price policyt (b) adjustments in producer prices for cocoa and otherexport crops to provide incentives to farmerst (c) lifting price controls ondomestically produced foods./...A/ 40 / 44L Engli sh Page 43 B. The economy: I983-1984 1. Overview 114. The economy underwent strains in 1983. It was affected by a severe harmattan season and drought which caused bush fires and destroyed large areas of cash and food crops, as well as an influx of over a million Ghanaians returning from Nigeria and a fuel shortage and conseguent reduction in por.rer supply. These difficulties were compounded by a shortage of skills in the civil service and key economic sectors as large numbers of skilled people had left the country. The overall performance of the economy hras therefore unsatisfactory and almost all the major sectors showed a decline in production. I15. The rate of inflation, as calculated from the national consumer index, rose from 32.5 per cent in January 1983 to 174.1 per cent (the highest level in the countryrs economic history) in June 1983, when the effects of the surcharges and the period of short food supply had their impact on the economy. Inflationgradually declined in the third quarter of the year as limited guantities of foodstuffs became available. tibne the less, on the average, the rate of inflationin 1983 was far higher than the previous year. There were price increases in almost all the items which constitute the basket for measuring the consumer index. During the same period, rdages increased but at a lower rate than inflation, thus effectively decreasing real income of wage earners. 116. The cumulative effect of external assistance, coupled with the bold reform measures the Government initiated during the year in the Recovery Programme
analysis: The text discusses the economic situation of Ghana in 1983-1984, including the impact of a severe harmattan season, drought, and fuel shortage on the economy, as well as the government's response to these challenges through a recovery program. The text also touches on the issue of inflation, which was a major concern at the time. Based on this, it is likely that the text is related to economic development and its challenges.