Ghana’s central bank called on Monday for tighter fiscal policy to help bring down stubbornly high inflation as it hiked its main interest rate by another 50 basis points to 30.0% (GHCBIR=ECI).
The cocoa-, gold- and oil-producing West African nation is grappling with its worst economic crisis in a generation, characterised by double-digit inflation and ballooning public debt.
It has secured a $3 billion support package from the International Monetary Fund conditional on debt restructuring.
Read More : Ghanaian Central Bank Urges Stricter Fiscal Measures amid Latest Interest Rate Hike