Good news: About $2bn to be injected into the economy to curb Cedi depreciation – Oppong Nkrumah


As per Ghana’s Minister of Information, Kojo Oppong Nkrumah, the nation would before long get a $2 billion financial infusion from the public authority.

Kojo Oppong Nkrumah conjecture that $750 million from the Afremix Bank and $1.3 billion from the cocoa partnered advance will show up at the Bank of Ghana this week.

Kojo Oppong Nkrumah, in a meeting with Citi News, communicated certainty that the cedi’s new wild decay against the dollar will before long stop.

“The Bank of Ghana introduced a number of measures in the short term to deal with it and on the back of that… the $750 million that we were expecting, all the paperwork has been concluded, and it should be hitting our accounts today or tomorrow.”

“If I were you, and I was holding onto dollars, I would be selling them by now because there is a lot more dollar coming in from the $750 million and also from the Cocoa Syndicated Loan of about $1.3 billion,” the minister said.

The organization “expects that it would prompt fast dependability,” Mr. Oppong Nkrumah said.

Starting from the start of the year, the cedi has lost no less than 35% of its worth, making it the second most unfortunate performing cash on the planet (behind the Sri Lankan rupee) out of the 150 economies covered by Bloomberg.

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