Ghana is on the brink of securing an International Monetary Fund (IMF) Executive Board approval for a USD3 billion bailout.
The approval is expected by close of day, Wednesday 17th May, 2023 with a formal announcement due on Thursday 18th May.
This will immediately unlock USD600 million and provide the critically needed support for Ghana’s balance of payment.
We also expect the cedi to strengthen against the dollar and trigger a cascading effect on inflation. But the key question is whether the gains can be sustained. Evans Mensah breaks it all down.
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