Ghana’s Amissah-Arthur explains early 2009 hike
The Ghanaian economy faced two challenges - the pursuit of long-term sustainable growth, and the eradication of macroeconomic instability, said Kwesi Bekoe Amissah-Arthur, the governor of the Bank of Ghana, in a speech in mid-January.
In the first half of last year, sustained fuel and imported food driven inflation, which peaked at 20.7% in June, was accompanied by a depreciation of 17.5% in the cedi against the dollar, Amissah-Arthur said. These developments justified the central bank's
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