Kojo Oppong Nkrumah, the minister of information, has stated that the government plans to soon pump $2 billion into the Ghanaian economy.
According to Kojo Oppong Nkrumah, the Bank of Ghana will get the 750 million dollars expected from Afremix Bank this week, along with an additional $1.3 billion from the syndicated loan for cocoa.
Kojo Oppong Nkrumah promised that the free slide of the cedi to the dollar will soon be stabilized in an interview with Citi News.
The Bank of Ghana took a number of immediate action steps to address the situation, and as a result, "all the paperwork has been completed, and the $750 million that we were expecting should be entering our accounts today or tomorrow."
The minister remarked, "If I were you and I held 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 roughly $1.3 billion."
The administration "expects that it will lead to swift stabilization," Mr. Oppong Nkrumah continued.
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.
