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Ghana is staging one of the most impressive economic turnarounds in recent years, with its inflation rate plummeting to a four-year low of 8%. This marks the ninth consecutive monthly decline, a dramatic reversal from the crisis levels of over 22% seen just a year ago. The country’s remarkable recovery, driven by soaring gold and cocoa prices, has strengthened the cedi by 35% against the dollar and boosted investor confidence. This external boost has been effectively leveraged by the administration of President John Mahama, which has prioritized fiscal discipline and currency stability. The result is robust economic growth, with GDP expanding by 6.3% and the services sector booming. With inflation expected to drop below 9.4% by year’s end, Ghana stands out as one of Africa’s leading post-crisis success stories.
Business Insider Africa