• About Hisa Technologies
  • Advertise
  • Careers
  • Contact Us
  • Estate Cloud
Saturday, March 25, 2023
  • Login
  • Register
No Result
View All Result
NEWSLETTER
Kenyan Wallstreet
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Technology
    • Startups
  • Money Matters
  • Podcast
  • Videos
  • Digital Assets
  • Calendar
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Technology
    • Startups
  • Money Matters
  • Podcast
  • Videos
  • Digital Assets
  • Calendar
No Result
View All Result
Kenyan Wallstreet
No Result
View All Result

Ghana’s Inflation Hits a 22-Year High of 54.1%

Rosemary MuthonibyRosemary Muthoni
January 12, 2023
in African News
Reading Time: 2 mins read
Ghana

Ghana's Currency


Ghana’s consumer inflation rose to 54.1% year-on-year in December, up from 50.3% the previous month and its highest level in 22 years, driven by fuel, utilities and food, the statistics office said on Wednesday.

The West African gold, oil and cocoa producer is battling its worst economic crisis in a generation.

Its cedi currency slumped last year, fuelling inflation, as government spending cuts and central bank interest rate hikes failed to tame price rises.

ADVERTISEMENT

December’s inflation reading is the highest since April 2001, when it was at 59.7%.

Prices rose the most in the category of housing, water, electricity, gas and other fuels, up 82.34% year-on-year.

Furnishings and household equipment came second at 71.52%, followed by transport at 71.42%. Food and non-alcoholic beverages inflation were at 59.71% year-on-year.

Ghana approached the International Monetary Fund (IMF) in July to ask for financial help after soaring prices and economic hardship spurred street protests.

A staff-level agreement with the IMF for a $3 billion, three-year support package was secured in December. Debt restructuring is a condition to access funds.

The government has launched a domestic debt exchange programme and said earlier on Wednesday that negotiations with local pension funds on the terms were ongoing.

It also asked to restructure its bilateral debt under the G20 common framework platform on Tuesday.

Read Also: Ghana’s Business Activity Inches Higher in December on IMF Deal


Previous Post

Celo Introduces New Brand Identity to Promote Mainstream Adoption of Web3 Technology

Next Post

ExxonMobil Acquires Exploration Rights in Egypt’s Nile Delta

Related Posts

World Bank

World Bank Approves $7 Billion, 5-Year Partnership with Egypt

March 23, 2023
Amazon Web Services AWS FinTech Africa Accelerator

AWS’ footprint in Africa continues to expand with the launch of the AWS FinTech Africa Accelerator program 

March 22, 2023

Central Bank of Nigeria Raises Lending Rate by 50 Basis Points to 18%

March 22, 2023

Verod-Kepple Africa Ventures Raises $43M for Pan-African Tech-Enabled Fund

March 21, 2023

US Govt’s Prosper Africa joins hands with Africa Fintech Summit

March 21, 2023

BlackRock Acquires 31.25% Stake in Lake Turkana Wind Power, Africa’s Largest Wind Farm

March 20, 2023

YC backed Verto launches USD accounts with funds 100% Safeguarded for African Startups, Enterprises and VCs: Platform used by MTN, Jumia, Maersk and Interswitch

March 17, 2023

What is a venture holding company? Revolutionizing the landscape of venture investment in Africa 

March 17, 2023
Load More
Next Post
ExxonMobil

ExxonMobil Acquires Exploration Rights in Egypt's Nile Delta

Follow Us

  • 166.2k Followers
  • 3.6k Subscribers
  • 1.2k Followers

WhatsApp

Subscribe

Telegram  

Subscribe

Podcasts

Upcoming Events

There are no upcoming events.

View Calendar
Add
  • Add to Timely Calendar
  • Add to Google
  • Add to Outlook
  • Add to Apple Calendar
  • Add to other calendar
  • Export to XML

Featured

No Content Available

About Us

We are a leading integrated digital content platform providing in-depth business and financial news across Sub-Saharan Africa & the globe. Kenyanwallstreet.com is a property of Hisa Technologies Ltd, a financial media & software company.

Contact Us

Kenyan Wall Street
Email: [email protected]
Website: www.kenyanwallstreet.com

Disclaimer

The information contained in this website is for general information purposes only.
Read more..

  • About Hisa Technologies
  • Advertise
  • Careers
  • Contact Us
  • Estate Cloud

Copyright 2021. Hisa Technologies. All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Aviation
    • Banking
    • Energy
    • Infrastructure
    • Insurance
    • Investment
    • Manufacturing
    • Markets
    • Public Policy
    • Real Estate
    • Startups
    • Technology
  • Podcast
  • Videos
  • Events

Copyright 2021. Hisa Technologies. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In