World Bank warns Ghana, others against widening credit spreads, weakened currencies

The World Bank is warning Ghana and some African countries against the widening credit spreads and weakened currencies.

In its June 2022 Global Economic Prospects report, the Bretton Wood institution, also said the tightening of monetary policy to combat rising inflation has also gathered pace in several Sub-Saharan African economies including Ghana, Namibia, Nigeria, Rwanda, Sierra Leone and South Africa.

Moreover, the rising core inflation in several countries (Cameroon, Nigeria, Uganda) points to broadening price pressures, further reducing room for accommodative policies.

The World Bank also pointed out that the tightening of monetary policy to combat rising inflation has also gathered pace in several Sub-Saharan African economies such as Ghana, Namibia, Nigeria, Rwanda, Sierra Leone and South Africa.

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