Skip to content
Subscriber Only
Business
Economics

IMF Agrees to Lend Ghana Almost $1 Billion to Boost Economy

Updated on

An International Monetary Fund team agreed to lend Ghana almost $1 billion to help boost foreign-exchange reserves and bolster Africa’s worst-performing currency.

The agreement includes a three-year loan program of 660 million Special Drawing Rights, or $933 million, Joel Toujas-Bernate, head of the mission, said in an interview on Thursday in Accra, the capital. The plan will be presented to the IMF’s board for approval in April, with the first payment of about $100 million to be made shortly after, he said.