Information available to YEN.com.gh shows that Ghana’s stocks lagged behind those of the rest of world from January to March 2019.
Pulse.com.gh reports that this was because of the depreciation of the cedi, as well as a dry up of investors in local institutions.
The cedi has depreciated by some 19% in 2019, making it one of the worse performing currencies in the world.
According to Bloomberg, the Ghana Stock Exchange Composite Index has lost more than 14 percent this year, making it the laggard in dollar terms among 94 global equities benchmarks.
The index advanced for a first day in three on Friday, gaining 1.4 percent to 2,415.2 at 2:34 p.m. in the capital, Accra.
Ghana’s impending exit from a four-year International Monetary Fund program in April 2019, has unnerved some foreign investors, whose sale of the country’s assets have beaten the cedi 11% in 2019, Bloomberg reports.
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