Economist Paul Appiah Konadu says the International Monetary Fund’s $370 million disbursement to Ghana marks a major step forward in achieving the economic reform goals set under the Extended Credit Facility Program.
He noted that the inflow will boost the Bank of Ghana’s foreign reserves, support ongoing interventions in the foreign exchange market, and contribute to stabilizing the cedi as the country enters the second quarter of 2025.
“The staff agreement means that Ghana has needed to meet the conditions that help to unlock the next funding window of 370,000,000 million dollars. That means Ghana has ticked the boxes in terms of indicators that we’re supposed to meet to be able to move forward to the next level of the program.”
“And the $370,000,000 will add up to the foreign reserves at Bank of Ghana, which grew to cushion the cedi. It is important to note that since September 2021, we have lost access to the market; since then, the influence of forex has been limited only to earnings from exports. So the $378,000,000 is an important addition to forex inflows. The cedi has been quite stable in 2025,”
” I think it has not depreciated beyond 5% since the beginning of 2025. So the addition or the inflow of $370,000,000 will make available more dollars with which the Bank of Ghana can support the market. The Bank of Ghana, from time to time, has been terminated by releasing dollars into the market to reduce the pressure on the city.”
“And the IMF releasing this 370,000,000 would add to the buffers of dollars at the central bank, which will help going forward into the second quarter of the deadline,”.
