Africa Business Ghana West Africa World 

Ghana’s new banknotes spark confusion over relevance

Ghana’s economy has over the last decade been on a roller coaster with signs of positivity and growth; decreasing inflation and subtle macro-economic stability at times. A recent four year deal with the International Monetary Fund was to ensure that the country resets its economic fundamentals and build on that. But one major thing has been a challenge for the economy; its currency the cedi. Often a tool for political propaganda, successive governments have supervised a more than 300 percent depreciation of the local currency after a re-denomination exercise in…

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Africa Liberia West Africa World 

Liberia: Banknotes in short supply, banks run-out of cash

Liberian commercial banks have run out of money resulting in shortage of banknotes across the country. The shortage of banknotes means customers of banks have to form long queues at cash machines. Liberia’s ministry of finance said on Tuesday that there is not sufficient money in the vaults of commercial banks. It claimed people are keeping money at home. Liberia’s economy is struggling, flattening the confidence people have in the local currency. There have been protests in recent months after the disappearance of some $104million worth of bank notes in…

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