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Vol 49 No 25

Published 12th December 2008


Ghana

More pressure on the cedi

Whoever wins the second round of the presidential election – John Atta Mills or Nana Addo Dankwa Akufo-Addo – will have to make tough economic decisions as soon as they take power. Pressured this year by falling demand for its main export of cocoa and by spiralling food prices, the government has tried to soothe the social pain with subsidies and other palliatives, pushing the budget deficit to over 10% of national gross domestic product (GDP). Lower export earnings and higher costs of imports have pushed the current account deficit to over 15%

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