Displaying items by tag: Consumer Price Rises

Ghana has previously refused to seek help from the International Monetary Fund (IMF) to support its crippled economy. However, they will now be making a U-turn and asking the IMF to rescue them from poverty inflicted by the pandemic and inflation. Sierra Leone has launched a redenominated currency to strengthen its value. However, critics and the opposi¬tion say the redenomination of the leone is confusing and adds no value. Uganda opposition figure Besigye was released on bail after being detained in the capital Kampala for two weeks for leading protests against sky-rocketing consumer prices. See The pandemic and the Russia-Ukraine war could leave a lasting financial impression for a decade. 30 million Africans experienced extreme poverty in 2021 and 22 million jobs were lost in the same year due to the pandemic. The trend is expected to continue until 2023. The economic disruptions from the Ukraine war could push a further 1.8 million Africans into extreme poverty this year.