Ghana To Get $102Million AfDB Loan Ahead of 2024 Budget Presentation | Business Edge | 07-11-23
Host: Lekan Onabanjo
Guest: Patrick Baah Abankwa, Financial Analyst and Investment Advisor, Accra, Ghana
The African Development Bank (AfDB) has granted approval for a funding of $102.59 million to bolster Ghana's economic recovery, strengthen its financial sector, and complement the IMF's Extended Credit Facility. This financial support is intended to improve public finance management, enhance productivity, and facilitate job creation.
Ghana's economic recovery is partly attributed to the $3 billion loan program from the IMF, which has led to a 3.2% growth rate in the first two quarters of 2023. Furthermore, inflation has decreased from 53.6% to 38.1% as of September 2023.
In light of these developments, business and trade leaders have emphasized the critical importance of economic stability in enabling them to plan, invest, and generate employment opportunities.
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Ghana To Get $102Million AfDB Loan Ahead of 2024 Budget Presentation | Business Edge | 07-11-23
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