Rising gas demand in the EU countries, which have been imposing sanctions on their main provider, Russia, on the back of the Ukraine war, has ... prompted Egypt on the other side of the Mediterranean to boost its LNG exports. Yet, its high domestic consumption and possibly insufficient infrastructure remain stumbling blocks.
Facing the highest inflation rate in 19 years – 31.7% – and a currency that has slumped by over 40% against the US dollar since January, the Agyapa gold securitisation deal is the government’s major card, yet to be played, to save the shrinking economy.
“My mind is still there. The question is the process of doing that. If we have a problem with the process, let’s articulate it, let’s cure it, but let us not drop something that would be good for us and reduce our debt exposure,” finance minister Ken Ofori-Atta told pressmen in Accra in May.