IMF Approves Ghana’s $3bn Loan To Alleviate Crisis

The International Monetary Fund (IMF) has approved a $3bn (£2.4bn) bailout programme aimed at alleviating the country’s economic crisis.

Ghana’s Information Minister Kojo Oppong Nkrumah told the BBC the three-year extended credit facility was approved on Wednesday, in Washington DC.

The West African nation has been battling its worst economic crisis in a generation marred with inflation, debt burden and the depreciation of the local currency– the cedi – against the US dollar.

It is expected that $600m, the first batch of the loan will be remitted to Ghana as soon as possible.

Source: BBC