Ghana latest in Africa to cut fuel subsidies

ACCRA (Reuters) - Ghana has cut fuel subsidies following an increase in crude oil prices and the depreciation of the Ghana cedi currency, the head of Ghana's National Petroleum Authority (NPA) said in a statement on Thursday. Ghana, which joined the club of oil producers in West Africa last year, has come under increased pressure from the International Monetary Fund to remove the fuel subsidies. The IMF has urged countries across West and Central Africa to cut fuel subsidies, which they say are not effective in directly aiding the poor, but do promote corruption and smuggling. ...