The five countries with the highest interest rates in the world in 2023

The central banks of Zimbabwe, Argentina, Venezuela, Ghana and Sudan raise interest rates to curb inflation.

According to him ‘ranking’ Trading Economics, Zimbabwe It is the country with the highest interest rate in the world. The African country reached a rate of 150%.

(See: What was the impact of the rate hike on GDP in the first quarter?).

follows him Argentina with 97%. The central bank of this country adopted this measure to obtain “positive real returns on investments in local currency, and to act immediately to prevent financial volatility from acting as a driver of inflation expectations”.

(See: Tariff hike would hit the fight against inflation in the country).

The third in the ‘top’ is Venezuela. In the report of the Venezuelan Finance Observatory, an accumulated inflation of 71.08% was recorded for 2023. Its interest rate is at 57.57%.

(See: Food prices close the inflation gap between rich and poor).

According to data compiled by Trading Economics, the fourth and fifth places are held by two other African countries.

Ghana has a interest rate 29.5% and inflation in April of 41.2% year-on-year, according to the country’s official statistics. While Sudanin last place, recorded a rate of 27.3% and an inflation of 63.3%.

(See: Nequi reduces interest rate for ‘lifesaving’ credit modality).

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