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$300 million World Bank loan hits BOG account

Bank of Ghana predicts further decline in inflation

The 300 million dollar World Bank facility to support some projects in 2024 has finally been credited to the Bank of Ghana’s (BoG) account.

This was after Ghana met all the necessary conditions, including Cabinet and Parliament’s approval to facilitate the transfer of the funds to the country.

The Bank of Ghana is expected to take “the dollars”, and transfer the cedi equivalent to the various government agencies and ministries.

Experts say the “Foreign Exchange” component of this facility could go a long way to support the international reserves of the Bank of Ghana.

Data released by the Bank of Ghana showed that its Gross International Reserves have hit more than 6 billion dollars ending February 2024.

Source: myjoyonline

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