The Information Minister, Kojo Oppong Nkrumah, says the government will soon inject about $2 billion into the Ghanaian economy, as part of measures to address the Cedi depreciation.<\/p>\n\n\n\n
According to him, 750 million dollars 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.<\/p>\n\n\n\n
Mr. Oppong Nkrumah made this known during an interview on Accra-based radio station, Citi FM.<\/p>\n\n\n\n
He also gave the assurance that the free fall of the cedi to the dollar will soon be a thing of the past as the local currency will be stabilised.<\/p>\n\n\n\n
\u201cThe Bank of Ghana introduced a number of measures in the short term to deal with it and on the back of that\u2026 the $750 million that we were expecting, all the paperwork has been concluded, and it should be hitting our accounts today or tomorrow.\u201d<\/p>\n\n\n\n
\u201cIf I were you, and I was holding onto dollars, I would be selling them by now because there is a lot more dollar coming in from the $750 million and also from the Cocoa Syndicated Loan of about $1.3 billion,\u201d the minister said.<\/p>\n\n\n\n
He added that the government\u2019s \u201cexpectation is that it will lead to quick stabilisation.\u201d<\/p>\n\n\n\n
The cedi has dropped by at least 35 percent in 2022.<\/p>\n\n\n\n