The Ghanaian cedi is expected to maintain its relative stability in the coming weeks, supported by the anticipated disbursement of $370 million from the International Monetary Fund (IMF) later this month.
This amount represents the fifth tranche of Ghana’s $3 billion Extended Credit Facility and follows the successful fourth review of the country’s economic reform programme in April.
The IMF Executive Board is scheduled to meet on June 3 to approve the disbursement, which would bring total receipts under the programme to $2.24 billion.
Bank of Ghana Governor Dr. Johnson Asiama stated that the expected inflows, along with additional funding from the World Bank, will help bolster the country’s foreign reserves, enhance exchange rate stability, and strengthen market confidence.
“As you are aware, this money is released after [approval] by the IMF Board. We are expecting the $370 million, and not only that — the World Bank also stands to make some disbursements. These funds will certainly help build our reserves further, likely by June,” he said.
The IMF programme has played a pivotal role in Ghana’s post-crisis economic recovery, offering both financial backing and technical assistance. It supports the country’s efforts in fiscal consolidation, structural reforms, and achieving debt sustainability.
The projected inflows are expected to provide short-term relief from foreign exchange pressures and help moderate imported inflation, especially as the mid-year economic cycle gains momentum.
Story By: Michael Abayatey
