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Large swaths of Ghana are facing power blackouts due to gas shortages at a major power facility, the nation’s power operator said, compounding the country’s worst economic crisis in decades.
2022 Pakistan floods in summer cause over $30 billion dollars in economic losses in Pakistan. [26] At the end of March 2022, the State Bank of Pakistan's reserves stood at $11.425bn, but they gradually tanked to an almost four-year low of $6.715bn on 2 December. Pakistan's foreign exchange reserves equal to just five weeks of merchandise ...
The gold-, oil- and cocoa-producing nation has been battling its worst economic crisis in a generation brought on by spiralling public debt. Multi-day protests over economic crisis grip Ghana's ...
Public frustration over Ghana's economic travails, including high prices and a dearth of jobs, has dominated the run-up to Saturday's general election, which will likely test the nation's ...
Corruption distorts economic decision-making, deters investment, undermines competitiveness and, ultimately, weakens economic growth of a country, which is why the problems are long-standing, and despite ongoing calls for reform, and many attempts to improve the situation, there is little evidence of progress.
Tackling these issues will be necessary if Ghana's rapid economic growth is to be maintained. [32] According to Transparency International's 2022 Corruption Perception Index, Ghana was ranked 72nd out of 180 countries, with a score of 43 on a scale where a 0–9 score means highly corrupt, and a 90–100 score means very clean.
Corruption in Ghana is similar to other countries in the region. [6] Corruption in Ghana affects, among other sectors, natural resource management. Despite government efforts to quell corruption, local elites take advantage of limited transparency and accountability to take control of community natural resources for their personal financial ...
The Ghana banking crisis was a severe banking crisis that affected Ghana between August 2017 and January 2020. The Bank of Ghana (BoG) allowed several indigenous banks to be taken over by private companies between August 2017 and January 2019 after Nana Akufo-Addo was elected president in December 2016.