The Expected $750M Afreximbank Loan Lands In Gov’t Accounts

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Finance Minister Ken Ofori Atta
Finance Minister Ken Ofori Atta

The expected $750 million loan from the African Export-Import Bank (Afreximbank), has hit the accounts of the Ghana government.

The Ghanaian government is expecting a total of $2 billion in loans from different sources including Afreximbank.

It is part of efforts to stabilise the local currency, Ghana cedi, against the ever-strengthening US dollars.

The Afreximbank loan came in three tranches: $332 million, $187 million and €193 million.

The money has been transferred to the Bank of Ghana for a cedi equivalent to help shore up its forex reserves.

The other chunk of the expected $2 billion is the $1.3 billion cocoa syndicated loan.

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