Wednesday, 31 December 2014
Ghana's cedi, Zambia's kwacha worst African currencies in 2014
Ghana's cedi and Zambia's kwacha are set to end 2014 as the worst performing African currencies among a small basket that are relatively liquid, as falling commodity prices take a toll on some of the continent's "lion" economies.
The cedi has lost about 27 percent in 2014, one sign of a fiscal crisis in an economy that grew strongly in previous years on gold, cocoa and oil exports. Economic growth in 2015 is seen slowing to 3.9 percent in 2015 from an estimated 6.9 percent this year.
The cedi slumped around 40 percent earlier this year but a Eurobond issue, cocoa loan inflows and talks with the International Monetary Fund on a financial assistance programme helped it recoup some losses.
Zambia's kwacha is ending the year on the backfoot amid tax rows with mining houses, a lower growth forecast and a looming election.
Subscribe to:
Post Comments (Atom)
Journalists Against Poverty Call for collaboration of regional government in the eradication of Female Genital Mutilation
Regional Coordinator of Journalist Against Poverty, Wale Elekolusi has called for the collaboration of regional government in stamping out ...

-
The Consumer Protection Council says it will continue to protect the rights of Nigerian consumers and ensure satisfaction in service deliv...
-
The Debt Management Office Nigeria said today it sold bonds worth a total of 60 billion naira ($302 million) at lower yields on all tenors...
-
The Trans Nigeria Pipeline that carries Nigeria's Bonny Light crude oil to an export terminal has been shut down since May 12. A ...
No comments:
Post a Comment