Ghana's mortgage holders feel the pain as US dollar climbs
Strength of American currency is pushing up cost of greenback-denominated loans
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
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 currency, which has more than doubled the cost of repayments on his US$90,000 mortgage, which he took denominated in US dollars to secure lower interest rates.
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
