“Ghana’s economic death spiral just keeps spinning” – Professor Steve Hanke

A Professor of Applied Economics at the Johns Hopkins University, Professor Steve H. Hanke, who is a hard critic of Ghana has described the country's economy as experiencing a downward trend in performance.

In a tweet, he said "Ghana’s economic death spiral just keeps spinning".

He placed the Ghana cedi as the 13^th worst performing currency in the world since January 2020.

“Ghana is in 13^th place in this week’s Hanke’s Currency Watch List”.

According to Professor Hanke, the cedi has depreciated by 42.57% since January 1, 2022.

This is compared to the about 34% depreciation so far this year.

“By my calculations, the Ghana cedi has depreciated 42.57% against the US dollar since January 2020”.

WORLD’S WORST CURRENCIES SINCE JANUARY 2020

CURRENCY	DEPRECIATION (%)
Venezuelan bolivar	-99.39
Zimbabwean dollar	-97.33
Lebanese pound	-93.55
Sudanese pound	-84.84
Syrian pound	-79.62
Argentine peso	-72.98
Turkish lira	-67.34
Iranian rial	-55.45
Sri Lanka rupee	-52.08
South Sudanese pound	-51.61
Nigeria naira	-48.87
Laotian lip	-43.00
Ghana cedi	-42.57
Ukrainian hryvnia	-41.69

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