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Africa, News

Ghana economy contracts for the first time in nearly four decades

ACCRA (Reuters) – Ghana’s economy contracted for the first time in almost four decades in the second quarter, by an annual 3.2%, hit by the fallout of the coronavirus pandemic, the statistics office said on Wednesday.

The gold-, oil-, and cocoa-producing West African nation imposed a three-week lockdown at the start of the pandemic in March, leading to the shutdown of numerous businesses, government statistician Samuel Kobina Annim told a news conference.

“Even after the restrictions have been lifted, many businesses across sectors have continued to close down,” Kobina Annim said.

(Reporting by Christian Akorlie; Writing by Bate Felix; Editing by Aaron Ross and Kevin Liffey)

Workers are pictured at the Stena forth drill rig for Springfield Group, the first independent African energy company to discover oil in deep sea at the sea near Takoradi

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