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Ghana’s government has now gotten the $750 million loan from Afrexim Bank that was anticipated.
This is a portion of the $2 billion in loans from various sources that the government anticipates will help stop the wild collapse of the cedi.
The 750 million euros reportedly came in three installments of $332 million, $187 million, and 193 million euros, according to sources at the Ministry of Finance.
In order to strengthen the reserves of the central bank, the money was later transferred to the Bank of Ghana for an equivalent in cedis.
Ghana’s government has now gotten the $750 million loan from Afrexim Bank that was anticipated.
This is a portion of the $2 billion in loans from various sources that the government anticipates will help stop the wild collapse of the cedi.
The 750 million euros reportedly came in three installments of $332 million, $187 million, and 193 million euros, according to sources at the Ministry of Finance.
In order to strengthen the reserves of the central bank, the money was later transferred to the Bank of Ghana for an equivalent in cedis.
The syndicated loan for cocoa is anticipated to boost Ghana’s revenue by $1.3 billion.
According to Bloomberg, the cedi has declined by at least 35 percent in 2022, ranking second worst globally among 150 economies monitored only to the rupee of Sri Lanka.
Source: Ghanatodayonline.com
