Ghana's central bank on Monday raised its main interest rate to 29.5%, in a sign the monetary committee does not yet see the country's economic situation stabilising despite two consecutive months of slowing inflation.

The cocoa, gold, and oil-producing nation, one of West Africa's largest economies, is facing its worst economic crisis in a generation and is in the process of restructuring its debt in order to secure a $3 billion loan from the International Monetary Fund. (Reporting by Cooper Inveen and Christian Akorlie; Writing Hereward Holland; Editing by James Macharia Chege)