Ghana

Rising interest rates in Ghana is stoking cost of borrowing and forcing businesses to go bankrupt, research conducted by an international organisation has stated.

On April 22, 2016, Standard & Poor's Ratings Services affirmed its 'B-/B' long- and short-term foreign and local currency sovereign credit ratings on Ghana. The outlook is stable.

Inflation for the month of March 2016 has risen to 19.2 percent, the highest since August 2009.

Ghana's central bank left its policy rate steady at 26.0 percent, saying there is need "to maintain the current monetary policy stance which together with fiscal consolidation would help bring inflation further down."