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2 years ago
Ghana's central bank raises benchmark policy rate to 26.0 pct
November 16, 2015 / 11:23 AM / 2 years ago

Ghana's central bank raises benchmark policy rate to 26.0 pct

ACCRA, Nov 16 (Reuters) - The Bank of Ghana raised its main policy rate by 100 basis points to 26.0 percent on Monday to offset the risk of inflation, its governor Henry Kofi Wampah said.

The West African nation is under a three-year aid program worth $918 million with the International Monetary Fund (IMF) to restore fiscal balance to an economy dogged by a high fiscal deficit, a debt-to-GDP level close to 70 percent, and a falling currency. (Reporting by Kwasi Kpodo; Editing by Joe Bavier)

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