Ghana 19.07.24

·         36 cases of dengue fever have been confirmed across Ghana. The outbreak initially emerged in three districts but has spread to further regions. The illness is mosquito-borne. The recent climate has been blamed for the outbreak. https://ilkha.com/english/world/ghana-grapples-with-dengue-fever-outbreak-405613

·         The supreme court have delayed the decision on the anti-LGBTQ+ bill this week. No further date has been set. https://www.mambaonline.com/2024/07/18/ghana-supreme-court-delays-decision-on-anti-lgbtq-bill/

·         Ghana’s cocoa production is less than 55% of the average seasonal output. This year’s harvest has been described as “disastrous”. The harvest is usually concluded at the end of June. https://www.reuters.com/markets/commodities/ghana-cocoa-output-is-half-average-with-harvest-almost-complete-2024-07-16/

·         18 months after starting, Ghana has nearly completed restructuring its debt. Ghana is now embarking on a plan to help bolster small and medium-sized enterprises after the debt restructuring weighed on business growth. https://www.bloomberg.com/news/articles/2024-07-16/ghana-starts-532-million-plan-to-bolster-companies-after-crisis

·         Ghana’s inflation hit a two-year low in June. It fell to 22.8%- the country’s lowest since April 2022. https://nairametrics.com/2024/07/10/ghanas-inflation-hits-two-year-low-of-22-8-in-june/

·         The IMF has announced that Ghana’s financial sector stability has been maintained. “Despite facing capital shortfalls due to the implementation of the domestic debt exchange (DDE), bank balance sheets improved quickly in 2023, benefiting from high profitability and capital injections. The government of Ghana has begun the recapitalization of state-owned banks, injecting GHS4.6 billion via the Ghana Financial Stability Fund (GFSF) through April 2024”, https://www.myjoyonline.com/financial-sector-stability-maintained-but-credit-growth-declines-imf/