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Ghana seeks IMF help after currency falls 40%

Posted on 04 August 2014

Ghana, the country that epitomised the ‘Africa rising’ narrative of strong economic growth and improved governance, is to seek help from the International Monetary Fund. The reversal of fortunes underlines the challenges the continent still faces. The west African nation will turn to the fund for financial assistance after its currency plunged roughly 40 per cent this year against the US dollar, making the cedi the worst performing currency in the world in 2014.
Ghana is the second sub-Saharan African country to turn to the IMF for help this year, after Zambia announced in June that it would seek talks with the Washington-based multilateral body………………………………………..Full Article: Source


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