Ghana’s inflation soars as IMF deal drags on
27 March 2023 | 4:59 am
The West African nation is facing one of its worst economic crises in decades. Soaring inflation is compounding the sufferings of many Ghanaians who now have to dig deeper into their pockets to afford essential goods.
In this article
Find these stories and much more when you grab a copy of The Guardian on Thursday.
The European Commission has revised its economic forecasts upwards slightly, predicting growth of almost 1% in the bloc for 2023. Inflation is expected to slow but remain high, a little more so outside the eurozone.
Relentless rains in South Africa have claimed at least a dozen victims with the bad weather forcing the government to declare a national state of disaster. It comes less than a year after the country’s deadliest floods. And, as the civilian death toll rises from rebel fighting in Eastern Congo, more people are seeking refuge in the North Kivu town of Goma.
The government in Buenos Aires has imposed price caps on many goods to rein in runaway inflation. While the curbs are welcomed among low income locals, economists doubt they will remedy the country's persistent problem.
Ghana winger Christian Atsu's remains arrived in Accra on Sunday (February 19) a day after it was announced he had been found dead under the building where he lived in southern Turkey after last week's huge earthquake.
The German Minister labour, Hubertus Heil and his colleague for Development Cooperation, Svenja Schulze, are visiting Ghana as part of their tour that would take them to neighboring Ivory Coast as well. Key on their agenda is pushing for better cooperation between Germany and Africa. Hubertus Heil has been talking to DW about the visit and upcoming migration reforms in Germany targeted at Africa.
The annual inflation among the 20 nations that use the euro has fallen, but less than expected as food costs surge.
Data by the International Monetary Fund shows that only 24 per cent of loans collected by farmers under the anchor borrowers’ programme of the Central Bank of Nigeria has been repaid.
Ghana’s military has come under criticisms after carrying out a swoop in a community where one of its officers was stabbed to death. Soldiers unleashed mayhem, brutalizing many residents of Ashaiman, a suburb of the capital Accra.The Ghana Armed Forces (GAF) command said it sanctioned the operation and has apologized for the excesses that took place.
Food prices contributed to the high inflation rates, increasing even more than fuel prices. The prices of energy products were 19.1% higher year-on-year in February.
Ghana is expanding its national malaria vaccine immunization program to ensure that the shots reach thousands of children at high risk of malaria. The program is coordinated by the World Health Organization with support from NGOs and other stakeholders.
The African Games, scheduled to take place in Ghana this year, have now been postponed. This follows economic pressures, delays in preparations and acrimony among key stakeholders. The games are now set to take place in 2024.
34 mins ago
The 2020 murder of George Floyd focused attention on police violence in the United States. Though the officers involved are serving time in prison, efforts to address police racism remain stalled.
34 mins ago
With microplastic pollution invading our oceans and the soil, few places have been spared. Could it also enter the food chain? Scientists in the Netherlands are beginning to uncover the tip of the iceberg – so far, with more questions than answers.
1 hour ago
Syrian President Bashar al-Assad has been shunned internationally for over a decade, due to the brutal repression of anti-government protesters and the use of chemical weapons by his regime during the country's civil war. Despite numerous reported atrocities, the leader has clung onto power with the sole support of two major powers: Iran and Russia.
1 hour ago
Extra tuition costs take a large bite out of family finances and are a contributing factor to families choosing to have only one child.
2 hours ago
Griner returned to the basketball court after being detained in Russia for narcotics possession and trafficking. She was released during a high profile prisoner swap.
2 hours ago
The Cannes Film Festival kicks off and while seven out of the 21 directors nominated this year are female, there's anger over the opening movie starring Johnny Depp who's staging a comeback after winning a defamation trial against his former wife, Amber Heard, who accused him of abuse.