Ghana’s foof import prices

Experts are anticipating potential import inflation on food commodities in Ghana due to the withdrawal of Burkina Faso, Niger, and Mali from the ECOWAS bloc, according to a report by B&FT. Global Credit Rating (GCR), a subsidiary of Moody’s, suggests that the departure of these three countries from ECOWAS will lead to inflationary pressures in the domestic markets of these countries, influencing the prices of food commodities imported by neighboring nations like Ghana. The GCR predicts restricted movement of people and reduced trading across borders, fostering commodity hoarding and subsequent price hikes. The withdrawal is also expected to weaken economic…