You are here

Ghana's mortgage holders feel the pain as US dollar climbs

Strength of American currency is pushing up cost of greenback-denominated loans
Monday, September 7, 2015 - 05:50
BT_20150907_NAHFALL_1863252.jpg
Expectations of a rate rise by the US Fed have kept the US dollar strong and added to pressure on emerging currencies such as the cedi. Ghana's currency has tumbled 20 per cent since January.

Accra

ISAAC Buame felt his dreams had come true two years ago when he moved his family into a plush three-bedroom house in a gated-community east of the Ghanaian capital Accra. It was not until January that he began losing sleep.

The reason: a huge fall in the value of Ghana's cedi

Powered by GET.comGetCom