Restaurants and bakeries have downsized menus and laid off staff. The national taxi drivers union has threatened to strike over spiralling fuel costs, and the main lending rate hiked by 250 basis points to 17% is the largest increase in Ghana’s history Ghana’s central bank announced its biggest ever interest rate hike on Monday as it seeks to slow rampant inflation that threatens to create a debt crisis in one of West Africa’s largest economies. The Bank of Ghana, a report by Reuters showed, raised its main lending rate…
Read MoreGhana Imposes Record Interest Rate Hike, Battles Debt Crisis
