IMF approves $3bn loan for Ghana

The International Monetary Fund, IMF has approved a $3bn bailout programme aimed at alleviating Ghana’s economic crisis.

Ghana’s Information Minister Kojo Oppong Nkrumah said the three-year extended credit facility was approved on Wednesday, in Washington DC.

Report says the West African nation has been battling its worst economic crisis in a generation marred with inflation, debt burden, and the depreciation of the local currency the cedi against the US dollar.

It is expected that $600m, the first batch of the loan will be remitted to Ghana as soon as possible.

BBC/Christopher Ojilere