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The Bank of Ghana (BOG) has gotten the primary tranche of a $750 million credit office from the Afriexim Bank.
The facility is expected to finance capital and growth-related expenditures in the 2022 Budget. It will also give a big boost to the local currency, by helping to stabilize the cedi, which has been under serious depreciation
According to experts the additional forex should further boost confidence in the local currency.
The proceeds from the loan would largely be used to finance projects in the roads, energy, railways, and health sectors. These projects are those outlined in the 2022 Budget Statement and Economic Policy of Government.
Recently, the Minister of Information, Kojo Oppong Nkrumah hinted that the government is looking to inject $2 billion into the economy.
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