UPDATE 5-Crisis-hit Ghana changes its mind and turns to IMF for help

* Hundreds protested in the capital over economic woes* Ghana’s dollar-denominated sovereign bonds rally sharply

Ghana, a gold, cocoa and oil producer, has until now refused to seek IMF support to rescue an economy crippled by the pandemic, rampant inflation and a depreciating currency, despite analysts warning it is close to a debt crisis.. Central bank governor Ernest Addison said in May that Ghana faced an overall balance of payments deficit of $934.5 million in the first quarter of 2022, compared with $429.9 million in the same period last year.“We have long waited for this to happen because we could tell it wasn’t going to get better anytime soon,” said William Duncan, founder of the Ghana-based Spear Capital & Advisory.

Pls don't provide any assist to Ghana They are incompetent They'll use the money (unwisely) especially during elections

Please! Don’t give us any money. We will appreciate advice and directions on how to manage the economy. Our president chatters a flight that costs over $15000 an hour. We had this coming!

Don't give any money to the president of Ghana

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