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Ghana central bank is funding country's budget deficit - bank governor Wampah
June 11, 2014 / 5:11 PM / 4 years ago

Ghana central bank is funding country's budget deficit - bank governor Wampah

ACCRA, June 11 (Reuters) - Ghana’s central bank is funding the country’s budget deficit, but the amount does not exceed the limit of 10 percent of revenue collected and any excess will be redressed by the end of 2014, governor Henry Kofi Wampah told Reuters.

The bank’s import cover rose sharply to $5.1 billion, or 2.8 months of imports, as of June 6, Wampah said, though he declined to give a comparative figure. Ghana’s fiscal problems include rising inflation, a stubborn deficit and a falling currency. (Reporting by Kwasi Kpodo; Writing by Matthew Mpoke Bigg; Editing by Hugh Lawson)

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