On Thursday, September 22, Ghana's central bank announced that it had postponed its next interest rate decision from September 26 to October 7, to coincide with the end of an IMF mission to the country.

For years, the gold and cocoa producing nation that was once known as the rising star of West African economies has been grappling with its worst economic crisis. Authorities are not giving up as they try to slow rising inflation, curb spending and revalue the currency.

Indeed, last month the central bank raised its main lending rate by 300 basis points to 22 per cent in an emergency meeting to deal with inflation, which is over 30 per cent, and other economic problems. Early next week, a team is expected to arrive in Ghana for the International Monetary Fund assistance officially requested by the country in July.

So, in a statement, the bank said the monetary policy committee hopes the postponement of the rate decision "will allow the decision ... to benefit from the broader discussions that will take place during this period.