The Information Minister, Kojo Oppong Nkrumah, says the government is expected to inject $2 billion into the Ghanaian economy in the coming days.
Speaking on Radio Upper West in Wa, Mr. Oppong Nkrumah said the $750 million expected from the Afremix Bank will hit the accounts of the Bank of Ghana this week, whilst the cocoa syndicated loan will add $1.3 billion.
He stressed that the free fall of the cedi to the dollar will end as soon as the local currency is stabilised.
The Bank of Ghana introduced a number of measures in the short term to deal with the situation.
He said this is the time for people holding onto dollars to sell them because a lot more dollars are coming into the system.
Mr. Oppong Nkrumah added that government’s “expectation is that it will lead to quick stabilisation”.
The cedi has dropped by at least 35 percent in 2022, according to Bloomberg, making it the world’s worst-performing currency after Sri Lanka’s rupee among 150 economies tracked.
