$750m Afrexim Bank loan finally hits BoG’s account

The $750 million African Export-Import Bank (Afreximbank) Loan has finally hit the Bank of Ghana’s (BoG) Account.

Documents sighted by JOYBUSINESS showed that the swift advice came in tranches to hit government’s account with the Central Bank.

The said transfer came in yesterday (26thAugust, 2022) afternoon.

Government is primarily looking forward to use this money to finance some infrastructure projects.

However, the Bank of Ghana will take the dollars and give the cedi equivalent to government.

This will go a long to boost the Central Bank’s reserves, a move that could help slow down the rate of depreciation of the cedi against the dollar.

Source: JoyNews