Why have many African currencies slumped to record lows?
Ghana’s cedi has been described as one of the world’s worst performing currencies, President Akufo-Addo has reassured Ghanaians that the government is dealing with the crisis
The economic aftershocks from the covid pandemic and the war in Ukraine are being felt by economies around the world. Many countries have seen their currencies lose their value and a rapid rise in inflation. This is being felt acutely in many African countries where the falling value of many currencies is causing economic hardship because money isn’t buying as much as it did at the beginning of the year. Africa Daily’s Ferdinand Omondi has been looking at the cause and solutions to this economic turmoil.
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