Ghana’s annual inflation rate accelerated for the 19th straight month to 54.1% in December of 2022, up from 50.3% in the prior month. This was the highest reading since April of 2001, with inflation surpassing the 10% ceiling of the central bank’s target range since September 2021, as the slight depreciation of the cedi from mid-December contributed to a further increase in the cost of imported goods (61.9% vs 55.1% in November). Main upward pressure came from prices of transportation (71.4% vs 63.1%), of which fuels; utilities (82.3% vs 79.1%) and food products (59.7% vs 47.9%). Ghana has reached an agreement with the IMF in December of 2022 for a $3 billion three-year extended credit facility loan, as the country faces a severe economic crisis. The program aims to restabilize the economy and achieve debt sustainability.

Source: Trading Economics, Ghana Statistical Service

Wahala e no dey finish.

TUANKU:
Wahala e no dey finish.

Western power is fighting the present government

Ynix:

Western power is fighting the present government

Why are they doing that?

TUANKU:

Why are they doing that?

The president revolted against extracting their crude and exporting it to their country for refining and then selling it back to them at a very high rate. He wants them to come over and produce locally which will affect their own economy

Ynix:

The president revolted against extracting their crude and exporting it to their country for refining and then selling it back to them at a very high rate. He wants them to come over and produce locally which will affect their own economy

Okay. Thanks for the explanation.