More Tough Times Ahead for Ghana Cedi as Debt Workout Drags
- Political risk ahead of December elections also weigh on unit
- Ghana rebuilding foreign exchange reserves amid a debt crisis
Ghana cedi banknotes.
Photographer: Ernest Ankomah/BloombergThis article is for subscribers only.
The worst may not be over for Ghana’s cedi, Africa’s third-worst performing currency this year.
Analysts said the unit, which has already lost more than 7% against the dollar, could continue to weaken despite the International Monetary Fund’s $3 billion bailout following the country’s 2022 default.