Ghana’s cedi is expected to remain relatively stable in the coming weeks, supported by the anticipated disbursement of $370 million from the International Monetary Fund (IMF) later this month.
This payment represents the fifth tranche of Ghana’s $3 billion Extended Credit Facility and is pending approval from the IMF Executive Board, which is scheduled to meet on June 3.
The upcoming disbursement follows a successful fourth review of Ghana’s economic reform programme in April and will bring total funds received under the programme to $2.24 billion.
Bank of Ghana Governor Dr. Johnson Asiama noted that the expected IMF inflows, along with additional funding from the World Bank, will help strengthen the country’s foreign reserves. This, he said, will further stabilize the exchange rate and reinforce economic confidence.
“As you are aware, this money is released after approval by the IMF Board. We are expecting the $370m and not only that, the World Bank also stands to make some disbursement. So those monies will come in and certainly build our reserves further but that will be somewhere in June,” Dr. Asiama stated.
The IMF programme remains a cornerstone of Ghana’s post-crisis economic recovery, offering both financial backing and technical guidance as the country pursues fiscal consolidation, structural reforms, and debt sustainability.
The anticipated inflows are likely to ease short-term foreign exchange pressures and help temper imported inflation, especially as the country enters the mid-year economic period.
