Ghana faces one of its worst economic crises

Ghana is experiencing a deep economic crisis, with a rampant inflation that has reached almost 40% and its currency that has fallen by almost half compared to the US dollar. The government's finances are also at their lowest point in years. Home of 31 million people, Ghana is now one of the most affected by the crisis in the region, and that's heavily felt for those who rely on imports and depend on the dollar to obtain their products.

Ghana's cost of living has risen exponentially with inflation reaching almost 40%, one of the highest levels in the last years. Last week the government said it has agreed on a debt management strategy with the IMF as the country faces high risk of debt distress. The country's finance minister told that Ghana will freeze hiring of public and civil servants among other measures.