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Top related persons:
Ange Aboa - 1 Nana Akufo - 1 Addo - 1 Ghana cedi - 1 ​ - 1 Leticia Adu Yankey - 1 Fiifi Boafo - 1 Maxwell Adombila - 1
Top related locs:
Atroni Sunyani Ghana Akufo West Africa London Ivory Coast Togo
Top related orgs:
REUTERS - 1 Ghana cedi - 1 Ghana Civil Society Cocoa - 1 CFA - 1 Central African CFA - 1 Thomson - 1

Search resuls for: "Ghana cedi"


4 mentions found


☆ Ghana hikes 2023/2024 cocoa farmgate price as supplies tighten
  + stars: | 2023-09-09 | by ( Maxwell Akalaare Adombila Christian Akorlie | Maxwell Akalaare Adombila | Christian Akorlie | ) www.reuters.com   time to read: +3 min
Cocoa beans are pictured next to a warehouse at the village of Atroni, near Sunyani, Ghana April 11, 2019. A weakened cedi currency and a lower farmgate cocoa price in Ghana in the 2022/2023 season, compared with neighbouring Ivory Coast, the world's top cocoa grower, saw beans smuggled to there and to Togo. Fiifi Boafo, head of public affairs at regulator COCOBOD regulator told Reuters on Saturday that Ghana is targeting an output of 820,000 metric tons for the 2023/2024 season after the increased farmgate price. Boafo added that Ghana is planning to borrow $1.2 billion for its annual cocoa purchases. Cameroon, another top West African cocoa producer, and the world's fourth biggest, on Thursday raised its farmgate cocoa price by 25% to around 1,500 ($2.45) CFA franc per kg for the 2023/2024 season.
Persons: Ange Aboa, Nana Akufo, Addo, Ghana cedi, ​, Leticia Adu Yankey, Fiifi Boafo, Maxwell Adombila, Bate Felix, Clelia Oziel, Alexander Smith Organizations: REUTERS, Ghana cedi, Ghana Civil Society Cocoa, Reuters, CFA, Central African CFA, Thomson Locations: Atroni, Sunyani, Ghana, Akufo, West Africa, London, Ivory Coast, Togo, Cameroon
☆ Payments company Wise suspends Ghana cedi transfers amid volatility
  + stars: | 2022-12-16 | by ( Cooper Inveen | ) www.reuters.com   time to read: +2 min
ACCRA, Dec 16 (Reuters) - Cross-border payments company Wise (WISEa.L) has suspended transfers in Ghana's cedi currency after a rapid appreciation against the dollar this week made it costlier to move money to the West African country, a Wise spokesperson told Reuters on Friday. Ghana, once considered a rising star among emerging market economies, is today facing a generational debt crisis. A spokesperson for London-based Wise said that cedi functions, which were suspended Thursday, would be restored "as soon as the situation has stabilised" and that only a small number of transfers were affected. "That said... we’ve seen the central bank buy dollars from the open market to shore up its reserves," Akoto said. Reporting by Cooper Inveen; Additional reporting by Rodrigo Campos; Editing by Louise Heavens and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.
☆ Explainer: Who holds Ghana's debt and what restructuring is planned?
  + stars: | 2022-12-09 | by ( Rachel Savage Marc Jones | Rachel Savage | Marc Jones | ) www.reuters.com   time to read: +5 min
The cedi has lost more than 50% of its value this year , pushing up the cost of Ghana's external debt. Interest payments alone absorb between 70 and 100% of the government's revenuesHOW BIG IS GHANA'S DEBT? Ghana's public debt was 467.4 billion cedis ($37.4 billion) in September, of which 42% was domestic debt, according to the most recent central bank figures released last month. Ghana's debt-to-GDPWHO OWNS GHANA'S DEBT? The fund is yet to comment on Ghana's debt sustainability or domestic bond exchange plans.
☆ Ghana to swap domestic debt in fight to regain economic stability
  + stars: | 2022-12-04 | by ( Christian Akorlie Cooper Inveen | Christian Akorlie | Cooper Inveen | ) www.reuters.com   time to read: +2 min
ACCRA, Dec 4 (Reuters) - Ghana will launch a domestic debt exchange on Monday, its Finance Minister Ken Ofori-Atta said, expressing confidence that the move would help restore macroeconomic stability and end the West African country's worst economic crisis in a generation. Ofori-Atta said in a video address on Sunday that Ghana's government had finished its debt sustainability analysis, but he did not provide any information on plans for foreign debt that are anxiously awaited by international creditors. The government is in talks with the International Monetary Fund for a support programme to relieve its debt distress. "There was little question that Ghana needed LCY (local currency debt) coupon reductions to restore macro sustainability. Ofori-Atta said the government would set up a financial stability fund with the support of development partners to help domestic financial institutions, including banks and pension funds, weather the swap.
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