Ghana's central bank left its policy rate steady at 26.0 percent, saying the risks to inflation and economic growth were balanced and that "the current tight monetary policy stance, supported by continued fiscal consolidation and improvement in the energy situation, would provide the necessary impetus to rein in inflation pressures."

The Bank of Ghana (BoG) has revoked licenses of some 70 microfinance and money lending companies.

Parliament on Wednesday approved a $1 billion sovereign bond from the European market to finance the 2016 budget and to offset some of the country's loans.

On Oct. 23, 2015, Standard & Poor's Ratings Services affirmed its 'B-/B' long-and short-term foreign and local currency sovereign credit ratings on Ghana. The outlook is stable.