Ghana Cedi Weakens to Six-Month Low Before Budget Review
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Ghana’s cedi headed for the lowest closing level in six months before Finance Minister Seth Terkper presents a revised 2015 budget to parliament and as mining companies demanded higher rates for dollars.
The government of West Africa’s second-biggest economy is seeking to curb inflation and stabilize a currency that’s slid 11 percent this year, the most among 24 African currencies tracked by Bloomberg after Zambia’s kwacha. Terkper may cut spending to stick to budget-deficit targets, while lowering the 2015 growth forecast to 2.7 percent from 3.9 percent previously, Parliament’s finance committee said March 9.