Inflation hit an 18-year high of 28.9% in June. Ghanaian Finance Minister Ken Ofori-Atta, who is currently knocking on the doors of the IMF as its President Nana Akufo-Addo promised in 2017 to break with the Bretton Woods institutions, protested on Monday following the decision of the IMF. Standard & Poor’s to downgrade his country’s rating to the ultra-speculative category (junk bond). This time, the tone is more measured, the treasurer not going so far as to accuse the international agencies of being institutionally biased on African economies. In its decision issued on August 5, the agency
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