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Ethiopian Premier Defends Currency Float Decision, Rejects Devaluation Claims

The Ethiopian Prime Minister, Abiy Ahmed, has defended the decision to float the birr and insisted that this move does not amount to the devaluation of the currency. Ahmed stated…

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Ghanaian Cedi Second Worst-Performing Asset Among Sub-Saharan Africa’s Top 15 Currencies

In just the first 17 days of the new year, the Ghanaian currency reportedly depreciated by 12.7%, making it the second worst-performing among Sub-Saharan Africa’s top 15 currencies. While one…

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Ghanaian Cedi Appreciates by More Than 30% in 4 Days — Currency Recovery Follows IMF Loan Announcement

Just a few months after it became the world’s worst-performing currency, the Ghanaian cedi’s exchange rate versus the U.S. dollar bounced back from just over 14 units per dollar on…

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IMF Blog: Better Regulation of Africa’s Growing Crypto Market Urgently Needed

A well-regulated African cryptocurrency market is needed in order to protect users as well as help countries stop bad actors from using digital assets to circumvent capital controls, the latest…

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Nigerian Currency Gains Versus US Dollar Days After Tapping All-Time Low

Just a few days after plummeting to its worst exchange rate against the U.S. dollar ever, the Nigerian currency was trading at around 820 units for every dollar on Nov.…

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While Official Figures Claim Turkey’s Inflation Rate Is 85%, Third-Party Stats Say It’s Closer to 200%

Inflation has skyrocketed in Turkey as official figures from the Turkish Statistical Institute (Tüik) show the country’s inflation rate topped 85.5% year-on-year. The inflation rate in Turkey has risen for…

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