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Vol 54 No 13

Published 21st June 2013


Presidential exports

Foreign trips seem to hold a special magic for President John Mahama, who has spent most of his first six months in office struggling with chronic power and water shortages while the Supreme Court decides on the legitimacy of his election last December. Despite medium-term optimism about Ghana’s economy, this week the cedi reached its lowest level since redenomination in 2007. Heavy demand for imports, falling gold prices and lower than forecast oil exports pushed it down to ¢2.07 = US$1.

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