Ghana was the first place in sub-Saharan Africa where Europeans arrived to trade - first in gold, later in slaves.
It was also the first black African nation in the region to achieve independence from a colonial power, in this instance Britain.
Despite being rich in mineral resources, and endowed with a good education system and efficient civil service, Ghana fell victim to corruption and mismanagement soon after independence in 1957.
In 1966 its first president and pan-African hero, Kwame Nkrumah, was deposed in a coup, heralding years of mostly-military rule. In 1981 Flight Lieutenant Jerry Rawlings staged his second coup. The country began to move towards economic stability and democracy.
In April 1992 a constitution allowing for a multi-party system was approved in a referendum, ushering in a period of democracy.
A well-administered country by regional standards, Ghana is often seen as a model for political and economic reform in Africa. Cocoa exports are an essential part of the economy; Ghana is the world's second-largest producer.
The discovery of major offshore oil reserves was announced in June 2007, encouraging expectations of a major economic boost. However, oil is not expected to flow for some years.
In July 2009, Ghana secured a 600 million dollar three-year loan from the International Monetary Fund (IMF), amid concerns about the impact of the global recession on poorer countries. The IMF said the Ghanaian economy had proved to be relatively resilient because of the high prices of cocoa and gold.
Ghana has a high-profile peacekeeping role; troops have been deployed in Ivory Coast, Liberia, Sierra Leone and DR Congo.
Although Ghana has largely escaped the civil strife that has plagued other West African countries, in 1994-95 land disputes in the north erupted into ethnic violence, resulting in the deaths of 1,000 people and the displacement of a further 150,000.
President: John Atta Mills
John Atta Mills was elected in December 2008 with a wafer-thin margin of victory over the candidate of the then governing New Patriotic Party, Nana Akufo-Addo
His predecessor, John Kufuor, had to step down after having served the maximum permitted two four-year terms.
It was Mr Mill's third attempt to win the presidency, after defeat in 2000 and 2004 to Mr Kufuor.
During the campaign, Mr Mills, the candidate of the National Democratic Congress, described himself as a social democrat inspired by the social welfare ideas of the country's first independence-era president, Kwame Nkrumah.
Between 1997 and 2000, he was vice-president to Jerry Rawlings during the former military ruler's term as democratically elected president.
Mr Mill's previous suggestion that he would consult with Mr Rawlings if elected drew widespread criticism, and he later moved to distance himself from his former boss.
John Atta Mills was born on 21 July 1944 in the western town of Tarkwa. He studied law at the University of Ghana and the School of Oriental and African Studies in London.
Widely known as "The Prof", he went on to teach law for nearly 25 years at his alma mater, before becoming national tax commissioner and then vice-president under President Rawlings.
He is a keen hockey player, at one point even playing for the national team.
A chronology of key events:
1482 - Portuguese set up trading settlement.
874 - British proclaim coastal area a crown colony.
1925 - First legislative council elections take place.
1957 March - Ghana becomes independent with Kwame Nkrumah as prime minister.
1960 - Ghana proclaimed a republic; Nkrumah elected president.
1964 - Ghana becomes a one-party state.
1966 - Nkrumah overthrown in military coup; Russian and Chinese technicians expelled.
1969 - New constitution facilitates transfer of power to civilian government led by Kofi Busia.
1972 - Busia ousted in military coup led by Colonel Ignatius Acheampong.
1978 - Acheampong forced to resign; General Frederick Akuffo takes over.
Rawlings era
1979 - Akuffo deposed in coup led by Flight Lieutenant Jerry Rawlings. Acheampong and Akuffo tried and executed on charges of corruption.
1979 September - Rawlings hands over power to an elected president, Hilla Limann.
1981 - Limann ousted in military coup led by Rawlings after two years of weak government and economic stagnation.
1983 - Rawlings adopts conservative economic policies, abolishing subsidies and price controls, privatising many state enterprises and devaluing the currency.
1992 - Referendum approves new constitution introducing a multiparty system. Rawlings elected president.
1994 - One thousand people are killed and a further 150,000 are displaced in the Northern Region following ethnic clashes between the Konkomba and the Nanumba over land ownership.
1994 June - Seven ethnic groups involved in violence in Northern Region sign peace agreement.
1995 - Government imposes curfew in Northern Region as renewed ethnic violence results in a further 100 deaths.
1996 - Jerry Rawlings re-elected president.
Kufuor elected
2000 - December - John Kufuor beats Vice-President John Atta Mills in the presidential election.
2001 February - Petrol prices rise by 60% following the government's decision to remove fuel subsidies.
2001 April - Ghana accepts debt relief under a scheme designed by the World Bank and the IMF.
2001 May - National day of mourning after football stadium stampede leaves 126 dead. Inquiry blames police for overreacting to crowd trouble.
2001 June - Government scraps public holiday celebrating Rawling's military coup in an effort to wipe out the legacy of his rule.
2001 June - Floods hit Accra, causing 10 deaths and forcing 100,000 to flee their homes.
2002 April - State of emergency is declared in the north after a tribal chief and more than 30 others are killed in clan violence. State of emergency is lifted in August 2004.
2002 May - President Kufuor inaugurates reconciliation commission to look into human rights violations during military rule.
2003 October - Government approves merger of two gold-mining firms, creating new gold-mining giant.
2004 February - Former President Jerry Rawlings testifies at commission investigating human rights offences during the early years of his rule.
2004 October - Group of current and former military personnel detained on suspicion of planning to destabilise government ahead of elections.
2004 December - Presidential poll: Incumbent John Kufuor wins a second term.
2005 April-May - Thousands of Togolese refugees arrive, fleeing political violence in their home country.
2006 April - A boat capsizes on Lake Volta reservoir; more than 100 passengers are feared drowned.
2006 June - Visiting Chinese Premier Wen Jiabao promises to lend Ghana about $66m to fund development projects. He is on an African tour aimed at opening new export markets for China's booming economy and at securing energy and mineral supplies.
2007 March - Ghana celebrates 50 years of independence from Britain.
2007 June - Major off-shore oil discovery announced. President Kufuor says oil will turn Ghana into an "African tiger".
2007 September - The worst floods for more than 30 years cause widespread devastation, destroying much of the annual harvest.
2007 December - President Kufuor says off-shore oil reserves total 3 billion barrels.
2008 December - John Atta Mills elected president.
2009 July - US President Barack Obama visits.
Ghana secures a $600m three-year loan from the International Monetary Fund (IMF).
2009 October - Controversy over sale of national communications network Ghana Telecom, allegedly for less that it was worth.
Ghana enjoys a high degree of media freedom and the private press and broadcasters operate without significant restrictions. The Commonwealth Press Union has described Ghana's media as "one of the most unfettered" on the continent.
