Ghana's balance of payments deficit worsens to US$3.64 bn

Ghana's balance of payments further deteriorated to a decit of $3.64 billion in December from a $3.4 billion de cit the previous quarter, central bank data showed on Saturday.

The West African nation is facing an economic crisis that saw consumer in ation rise to 54.1% last month. The cedi currency has depreciated around 50% annually, and interest payments on government debt have swelled to between 70% and 100% of GDP.

Recent balance of payments woes have been largely driven

Helping middle-income energy exporters kick the fossil-fuel habit reduce inequalities and vulnerabilities

By Carlos Lopes

The ongoing volatility in oil and gas markets has come as a shock to many people across the developed world. But its impact on developing countries that rely on pro- ducing fossil fuels has been far worse.

Over time, as the world increasingly shifts to cheaper and cleaner energy sources,

Integrated effort key to unleashing prospects in maritime sector -Transports

By Eugene Davies collaborate e ectively in the development of relevant strategies for the operations, extraction and utilization of by a sharp reversal in capital ows, with Ghana's capital account de cit having worsened to $2.18 billion in December from $1.64 billion in September. At the same time last year, Ghana had a capital account surplus of more than $3.3 billion.

Ghana secured a $3 billion sta level bailout from the International Monetary Fund late last year, but must restructure its debts in order to obtain executive board approval.

The country has requested to restructure its bilateral debt under the Common Frame- work platform supported by the Group of 20 major economies, and is currently negotiating terms for a domestic debt exchange programme with local bond holders. (Reporting by Cooper Inveen Editing by Robert Birsel and Frances Kerry)

Reuters

Panelists at the Africa Prosperity Summit in the Eastern Region, Ghana, have pushed for the rati cation of the African Union (AU) protocol on free movement of persons.

The rati cation of the protocol, together with the implementation of the policy on trade in goods and services, investment, intellectual property rights and competition, under the African Continental Free Trade Area (AfCFTA), they said would accelerate intra-trade and ensure the prosperity of the continent and its