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Ghana Must Mothball Its Central Bank, Install Currency Board; Economist Repeats

An international Economist, Steve Hanke has repeated his call for Ghana to mothball its Central Bank and install a currency Board.

His call came first in July 2022 while reacting to Ghana’s decision to turn to the IMF.

The Johns Hopkins University Economist’s current call comes on the back of Ghana’s surging inflation.

According to Hanke’s calculations, Ghana takes 10th place in the second week of August on the inflation table ahead of Nigeria which is a massive threat to the economy.

His chart has Zimbabwe, Turkey, Sri Lanka, Cuba, Argentina, Laos, Venezuela, and Ukraine, ahead of Ghana.

Ghana measured an inflation rate of 58% in July, Hanke found.

“#Ghana takes the 10th place in this week’s inflation table. On August 4, I measured Ghana’s #inflation at a stunning 58%/yr-almost 2x the official inflation rate of 30%/yr. Ghana must mothball its central bank and install a #CurrencyBoard”.

CREDIT: S. A. Kingsley.

Content created and supplied by: GeneralConceptMedia (via Opera News )

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