- IMF approval of a $3 billion loan to Ghana is expected to bring economic stability and aid in strengthening the country's finances.
- Ghana's currency, the Cedi, is projected to advance by an estimated 5.3% following the IMF loan, showcasing one of the largest gains among global currencies.
- Ghana aims to offset $10 billion of its external debt by 2026, with the immediate payout of $600 million from the IMF loan marking a significant step toward recovery.
The Ghanaian currency is projected to bounce back in a huge way, following the International Monetary Fund’s approval of a $3 billion loan to the gold coast.
The Cedi’s performance in the last year has been nothing short of a pendulum swing. Its aggressive shift from best-performing currency globally to worst-performing in quick successions demonstrated just how volatile the country’s economy had become.
But the planned initiatives of the Ghanaian administration with the new IMF loan are expected to bring about the much-needed economic stability that has eluded the country in recent months. The Ghanaian currency is prime to end the month with an estimated 5.3% advance, the 4th largest of the 150 currencies tracked by American media agency, Bloomberg.