Ghana's cedi currency failed to hold onto its early gains on Tuesday, even after the much-anticipated $360 million loan from the International Monetary Fund arrived in the Bank of Ghana's account.
According to market watchers, despite Monday's performance, many traders remained unconvinced that the IMF funds would significantly impact the cedi's depreciation. They pointed to a continued strong demand for dollars as evidence. Finance Minister Mohammed Amin Adam stated that July will see the launch of a consent solicitation and exchange memorandum aimed at international capital markets. The programme is expected to conclude by September.There was a problem processing your submission. Please try again later.
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