Ghana has announced an increase in the national daily minimum wage that will take effect from the beginning of next year.

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It will rise by 10% to 14.88 cedis ($1; £0.84) from 1 January.

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It is designed to help alleviate the burden caused by the rise in the cost of living. However, as annual inflation is now running at 40%, a 10% increase in the minimum wage will not cover the rise in prices.

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Ghana is the world’s second largest cocoa producer and Africa’s leading gold producer, but the country is battling an economic crisis with a declining currency and high debt levels.

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The country is currently negotiating a $3bn bail-out plan from the International Monetary Fund aimed at stabilising the economy.

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Source: BBC

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