• Latest
  • Trending
African Development Bank injects $102.6 Million to push Ghana's economic recovery

African Development Bank injects $102.6 Million to push Ghana’s economic recovery

November 10, 2023
GOC President congratulates Black Rockets for winning gold at 2025 Africa Youth Boxing Championship

GOC President congratulates Black Rockets for winning gold at 2025 Africa Youth Boxing Championship

May 28, 2025
Nigeria: Human Trafficking Agency probes Speed Darlington's alleged sexual encounter with a teenager

Nigeria: Human Trafficking Agency probes Speed Darlington’s alleged sexual encounter with a teenager

May 28, 2025
GRNMA unveils strike roadmap against gov't inaction and MPox outbreak

GRNMA unveils strike roadmap against gov’t inaction and MPox outbreak

May 28, 2025
Torkornoo knows her constitutional rights- Dame

Torkornoo knows her constitutional rights – Dame

May 28, 2025
Mahama nominates new MCEs for Effutu and Assin Central

Mahama nominates new MCEs for Effutu and Assin Central

May 28, 2025
Ten individuals arrested for alleged cybercrime activities in Weija

Ten individuals arrested for alleged cybercrime activities in Weija

May 28, 2025
Dr. Bawumia expresses concern over arrest and detention of Chairman Wontumi

Dr. Bawumia expresses concern over arrest and detention of Chairman Wontumi

May 28, 2025
National Media Commission swears in 18 members to oversee Ghana’s Media landscape

National Media Commission swears in 18 members to oversee Ghana’s Media landscape

May 28, 2025
Mahama unveils 24-hour economy policy, Volta Lake Corridor initiative

Mahama unveils 24-hour economy policy, Volta Lake Corridor initiative

May 28, 2025
Slow down; my dollar reserves are going to waste – Kuami Eugene speaks on cedi appreciation

Slow down; my dollar reserves are going to waste – Kuami Eugene speaks on cedi appreciation

May 28, 2025
We have not decided on the sale of our hotels- SSNIT Boss

We have not decided on the sale of our hotels – SSNIT Boss

May 28, 2025
Wontumi unable to meet bail conditions as granted by EOCO

Wontumi unable to meet bail conditions as granted by EOCO

May 28, 2025
Happy Ghana
Advertisement
No Result
View All Result
  • Home
  • News
  • Sports
    • International Sports
    • Afcon2017
    • Afcon2019
    • Corporate Knockout
    • U17 World Cup
    • World Cup 2018
  • Entertainment
  • Business
  • Bizarre
  • Feature
  • More
    • Technology
    • Opinion
    • Lifestyle
  • Listen Live
  • Home
  • News
  • Sports
    • International Sports
    • Afcon2017
    • Afcon2019
    • Corporate Knockout
    • U17 World Cup
    • World Cup 2018
  • Entertainment
  • Business
  • Bizarre
  • Feature
  • More
    • Technology
    • Opinion
    • Lifestyle
  • Listen Live
No Result
View All Result
Happy Ghana
No Result
View All Result
Home News

African Development Bank injects $102.6 Million to push Ghana’s economic recovery

in News, Top Story
African Development Bank injects $102.6 Million to push Ghana's economic recovery

African Development Bank injects $102.6 Million to push Ghana's economic recovery

Share on FacebookShare on TwitterShare on Whatsapp

The African Development Bank (AfDB) has approved $102.6 million budget support programme in an effort to support Ghana’s economy during its worst financial crisis in decades.

The programme was jointly unveiled by Ghana’s finance ministry and the African Development Bank on Thursday, with a primary focus on budgetary consolidation and economic restoration.

Ghana, known for its production of gold, cocoa, and oil, finds itself entangled in negotiations with bilateral and commercial creditors as it grapples with the daunting task of restructuring its debts. The nation has faced challenges accessing international capital markets, exacerbated by the mounting costs of domestic debt.

“The program will facilitate the government’s economic recovery reforms through enhanced public finance, increased productivity, and job creation,” highlighted AfDB’s representative, Eyerusalem Fasika, in a statement issued after the signing ceremony.

This financial infusion aligns seamlessly with Ghana’s existing extended credit facility with the International Monetary Fund (IMF). Fasika emphasized that the AfDB’s program complements the IMF’s support, reinforcing the nation’s commitment to comprehensive economic recovery.

In May, the IMF’s executive board granted Ghana a significant lifeline with a $3 billion loan spread over three years, featuring an immediate disbursement of approximately $600 million. Anticipation surrounds the imminent release of another tranche following Ghana’s anticipated debt-restructuring agreement with its official creditors.

Finance Minister Ken Ofori-Atta is set to present Ghana’s 2024 budget in parliament on November 15, providing a roadmap for the nation’s fiscal direction in the coming year. This injection of funds from the AfDB is poised to play a pivotal role in Ghana’s journey towards economic stability and resurgence.

Tags: Ghanahappy FM

Subscribe to receive notification everytime a new post is published. We promise to be discrete.

Unsubscribe
Previous Post

Former Chief Justice Sophia Akuffo criticizes Govt’s Domestic Debt Exchange Program, draws parallels to military regime tactics

Next Post

President Nana Akufo-Addo appoints Three Justices for Supreme Court, Seeks Parliamentary Approval

Next Post
Prez appoints Justice Anthony Kwofie others to the Supreme Court

President Nana Akufo-Addo appoints Three Justices for Supreme Court, Seeks Parliamentary Approval

Search

No Result
View All Result

Listen Live

BBC Match of the Day Africa

Happy Ghana

Recent News

  • GOC President congratulates Black Rockets for winning gold at 2025 Africa Youth Boxing Championship
  • Nigeria: Human Trafficking Agency probes Speed Darlington’s alleged sexual encounter with a teenager
  • GRNMA unveils strike roadmap against gov’t inaction and MPox outbreak
  • About
  • advertise
  • Privacy Policy
  • Contact Us

© 2025 Happy FM – Powered by Ghana’s leading radio network. Designed with passion by Global Media Alliance.

No Result
View All Result
  • Home
  • News
  • Sports
    • International Sports
    • Afcon2017
    • Afcon2019
    • Corporate Knockout
    • U17 World Cup
    • World Cup 2018
  • Entertainment
  • Business
  • Bizarre
  • Feature
  • More
    • Technology
    • Opinion
    • Lifestyle
  • Listen Live

© 2025 Happy FM – Powered by Ghana’s leading radio network. Designed with passion by Global Media Alliance.