The Ghana cedi is now the worst-performing currency among Africa’s top currencies, according to Bloomberg. Bloomberg pegs the depreciation of the cedi to the dollar at 8.86% between January 1, 2022, and February 25, 2022.
This is followed by the Zambian kwacha with a depreciation of 6.02%.
In 2020, the international media and research organization rated the Ghana cedi as the best performing currency in the world against the United States Dollar.
Ghana and the Zambian economies have been battling with fiscal slippages, whilst their rising debts have created fears among investors regarding their economic outlook.
Whereas Zambia agreed to an International Monetary Fund bailout of $1.4 billion in December 2021 for a crucial three-year programme to restructure its debt, Ghana is adamant about returning to the…
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