Ghana's cedi is Africa's third-worst performing currency, losing 7% against the dollar despite a $3bn IMF bailout.

Ghana's cedi is Africa's third-worst performing currency this year, losing over 7% against the dollar despite a $3bn IMF bailout. Analysts predict further weakening due to debt restructuring with Eurobond holders, raising concerns about inflation and the real sector economy. Ghana's international reserves remain insufficient to defend the currency, with the economy projected to grow 2.8% this year, up from 2.3% last year.

March 18, 2024
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