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Ghana Turns to IMF for Help as Currency Crisis Deepens

Ghana will seek immediate talks with the International Monetary Fund to help stem the world’s worst currency slide, ending four months of contradictory statements from the government about whether it needs emergency aid.

Yields on the nation’s Eurobonds due August 2023 fell the most in more than two weeks after President John Dramani Mahama instructed his economic advisers to “open discussions” with the Washington-based lender. Ghana’s programs with the IMF are typically two to three years and the government must still decide how much funding it needs, Finance Minister Seth Terkper said by phone from Washington today.