The economy situations in Ghana are not favorable of late. Reports indicated that the inflation of Ghana has reached 50 percent in a year period.
Steve Hanke is a renowned economist who monitors inflation across most countries. He works at John Hopkins and also a senior fellow and director of Troubled Currencies Project. He has explained that the recent inflation in Ghana is very terrible. He also attributed the recent protests in Ghana as a result of high inflation. He said that "In Ghana, hundreds gather in protest of surging inflation. Under President Akufo-Addo’s reign, sky-high prices are the new norm. Today, I measure Ghana’s inflation at a terrible 50%/yr."
There is a global economic crisis as a result of many factors. Most countries including Ghana have attributed the recent economic hardship to the Russian and Ukraine war. Remember that Covid-19 also brought a lot of countries to their knees.
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