Bawumia Reiterates Commitment To “Surmount” Economic Crisis As Cedi Continues Free Fall

Vice President Dr. Mahamudu Bawumia says his government will soon overcome the country’s current economic turmoil. Ghana’s economy is in crisis with the local currency, the cedi, rated the worst performing after the Sri Lankan rupee, according to Bloomberg. The cedi has lost 35% of its value this year alone. “The cedi fell 1.6% on Tuesday, August 16, extending this year’s slump to 35% and making it the world’s worst performer among 150 currencies tracked, after bankrupt Sri Lanka’s rupee,” Bloomberg reported. Ghana’s current debt has been put 391 billion cedis (equivalent to $31.6 billion) and with many of its…