Ghana 30.07.2024

• The Central Bank of Ghana held its main interest rate this week at 29% due to uncertainty surrounding inflation for the rest of the year. Consumer inflation remains well above the central bank's target of 8% despite slowing to 22.8% last month. https://www.reuters.com/world/africa/ghana-central-bank-surprises-with-hold-policy-rate-29-2024-07-26/ 

• The government has disbursed GHS12bn to bondholders under the domestic debt exchange programme. https://www.reuters.com/world/africa/ghana-central-bank-surprises-with-hold-policy-rate-29-2024-07-26/

• The finance minister has said the economy is bouncing back faster than expected and has raised the country's 2024 growth forecast.https://www.reuters.com/world/africa/ghanas-budget-deficit-34-gdp-first-half-2024-finance-minister-says-2024-07-23/

• The Cedi is down 5% since May. https://www.bloomberg.com/news/articles/2024-07-26/ghana-keeps-rate-steady-at-29-over-inflation-concerns 

• An article detailing how Ghana accumulated its debt over the years- https://www.ghanaweb.com/GhanaHomePage/business/How-Ghana-accumulated-the-GH-742b-national-debt-What-the-data-shows-1942313