Ghana Faces The Worst Economic Crisis In History

Ghanaian President Nana Akufo-Addo says his country is experiencing its worst economic crisis. <br />The Ghana cedi has depreciated by over 50% this year and is listed as the world’s worst-performing currency against the US dollar. <br />Mr. Akufo-Addo blamed speculation and illegal forex traders for the depreciation, adding that the central bank would clamp down on perpetrators. <br />The president says the government would maintain a 30% cut in the salaries of the president, vice president, ministers, and other government appointees. <br />The president assured investors in government treasury bills and other financial instruments that they would not lose their money because of the deal - amid concerns that a possible debt-restructuring agreement could affect the investors.