• Why Ghana Went From Hero to Zero for Investors

    1 month ago - By Washington Post

    Ghana is learning the hard way why oil can be a blessing and a curse. The onset of commercial crude production helped turn the West African nation into one of the continent's top investment destinations, but also prompted successive governments to borrow to the hilt. Skittish investors offloaded Ghana's bonds and currency, the cedi, amid doubts over its ability to settle its debts. The concern proved to be well-founded: In December, the government caught bondholders by surprise by unilaterally s
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