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Ghana’s Cedi Slumps to World’s Worst Performer Amid IMF Talks

  • Cedi depreciated as much as 3.3% on Monday to the US dollar
  • Ghana negotiating about $3 billion program with the IMF
Updated on

Ghana’s cedi slumped to become the world’s worst-performing currency this year as investors continued to squeeze foreign capital to the west African country before a deal with the International Monetary Fund.

The currency of the world’s second-biggest cocoa producer depreciated as much as 3.3% Monday, before paring the loss to 11.2750 per dollar at 3:30 p.m. in the capital Accra. That took its losses this year to more than 45%, the most among 148 currencies tracked by Bloomberg.