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Story summary
- The Ghana Securities and Exchange Commission (SEC) orders fund managers to reduce offshore investments to protect the cedi and stabilize the economy.
- Ghana is recovering from a severe economic crisis and nears the end of a three-year IMF program in August.
- The limit on foreign securities is 20% of managed funds, down from 70%, effective immediately.
- Investments in foreign securities are restricted to countries that share information with the SEC.
