Ghana’s economy rebounded from the worst economic crisis in a generation, driven by expansion in several key sectors, according to the country’s statistics agency.

The country’s industrial sector demonstrated 9.3% growth year-on-year, driven by the expansion in mining and quarrying, while the gold sector expanded for the third consecutive quarter, growing 23.6% year-on-year in the quarter. The services sector grew by 5.8% and agriculture by 5.4%.
However, the second-world’s leader in cocoa production has suffered a consecutive decline for the fourth quarter in this sector and showed a contraction of 26.2% year-on-year due to disease and bad weather, the agency pointed out.

Economic recovery is helping the West African nation restructure its debt. It has invited holders of about $13 billion of its international bonds to swap them for new ones after reaching a preliminary agreement with two groups of bondholders.