BANK RUN IN GHANA: A $1.6 BILLION NIGHTMARE AS INVESTORS CAN’T GET THEIR SAVINGS OUT

Ghana’s Finance Minister Ken Ofori-Atta speaks during the G-24 news conference at a World Bank/IMF meeting in Washington, April 19, 2018. ( AP Photo/Jose Luis Magana)

By Dana Sanchez

UP to 70,000 people could be facing financial ruin after a massive government “cleanup” of Ghana’s banking system that reduced the number of lenders by a third, closed 23 savings-and-loans and triggered a run on banks which couldn’t sell their holdings fast enough to meet demand...READ MORE