Oct
21

Going Ghana

ghanaTo glimpse the pain developing nations are suffering due to the Chinese economic slowdown, look no further than Ghana. Their biggest exports, gold, oil and cocoa are all down. As a result, they are running a huge budget deficit of 7.5% of GDP, their currency has fallen 14.5%, boosting inflation which has caused the central bank to raise interest rates to 25%, further slowing growth! A tourism boom is unlikely.

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