Ghana experiences severe economic crisis with record high inflation, affecting bank profitability and drawing criticism towards the Bank of Ghana's role.
Ghana faces its worst economic crisis in decades, marked by record high inflation. The Bank of Ghana, granted autonomy to control inflation and promote growth in 2002, has been criticized for its role in the crisis's impact on Ghanaian banks' profitability. Economist Emmanuel Ameyaw discusses the central bank's monetary policy decisions during this period, with the inflation rate averaging 28% in the decade before 2002.
June 16, 2024
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