Ghana : Inflation soars to 19.5% in Q1 2016
Thursday, 28 April 2016 12:40
In March 2016, inflation in Ghana soared to 19.12% from 18.5% in February. After public transport, it is now tariffs of water, electricity and fuel that surged significantly at the end of first quarter 2016.
The Central Bank of Ghana said on Tuesday 26, 2016, that cutting inflation down has become a priority.
According to Reuters, Central Bank’s interest rates should be reduced to help SMEs easily get loans from commercial banks.
Central Bank’s strategy to cut inflation down comes as Ghana’s government planned to issue a 3-year bond to raise €115 million. The last two transactions that Ghana carried out allowed it to mobilize about €231 euro to refinance its $25.6 billion debt that the end of 2015.
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