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The debt position of a country is crucial to the growth of its economy. We argue with empirical basis in this study that, external debt has impact on the growth of Ghana’s economy. A time- series data, spanning from 1991-2019 was analyzed. The findings of the study suggested a statistically significant and inverse relationship between external debt and economic growth. It is also argued in the study that, Ghana’s inflation regime has a significant impact on the growth of her economy. The study further verified the relationship between foreign direct investment and economic growth in Ghana. Results of the study revealed a significant and direct relationship between foreign direct investment in Ghana and the growth of the country’s economy. A test on granger causality found no causal linkage between external debt and economic growth in Ghana. The contribution of the study was finally discussed and limitations stated to serve as a guide for future study.

An empirical research that aims at investigating the interplay between real exchange rate and economic growth is imperative in the study of modern international economics. The real exchange rate regime plays a critical role in the economic growth of a country. The research focusses on the interaction that exist between Real Exchange Rate and Economic Growth in Ghana. Real GDP was used as a measure of Economic Growth Rate. Results from the empirical analysis revealed a statistically significant and positive association existing between real exchange rate and the growth of Ghana’s economy (Real GDP). This affirms the major hypothesis. Results from the data analysis also showed a statistically significant and positive association between labour force and economic growth. Results from the analysis also revealed an inverse relation between government’s consumption expenditure patterns and economic growth. The study finally considered the theoretical and practical contributions of the study.