• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Cedi gains as Ghana expects IMF bailout approval this week

2 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
62
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Cedi gains as Ghana expects IMF bailout approval this week

Ghana’s cedi and eurobonds extended gains Monday as the nation expects International Monetary Fund board approval for a $3 billion bailout this week.

The country anticipates the disbursement of “the first tranche of $600 million will come immediately” when the IMF board meets on Wednesday, Minister of State for Finance Mohammed Amin Adam said Monday.

The next $600 million will follow in November, with the remainder to be disbursed in equal portions of $350 million every six months, subject to IMF reviews, he said.

Ghana’s currency strengthened 5.3%, the most since April 3. International bonds of various maturities also rallied, accounting for eight of the ten top performers in emerging markets on Monday.

The 2035 dollar note rose 1.3 cents to 39 cents on the dollar. The government suspended payments on its external obligations in December as it engages in debt restructuring talks with creditors.

“We are expecting favorable negotiations with eurobond holders,” Amin Adam said.

RelatedPosts

Premier League: Ngumoha’s Late Goal Seals Liverpool’s Thrilling Win Over Newcastle

US Open: Venus Williams and Keys Bow Out as Alcaraz Launches Campaign

GSE Opens Week Higher as CPC Posts First Gain of 2025

The West African economy is also concluding negotiations for an additional $900 million of budget support from the World Bank over the three-year period. “The approval by the IMF will have a catalytic effect as other development partners and investors will join in the country’s economic recovery,” he said.

Ghana last week secured financing assurances from a bilateral creditors group that China and France are co-chairing, paving the way for the IMF’s board to approve the bailout program.

The official creditors committee formally constituted on May 12, and its members are committed to negotiating terms of a restructuring to be finalized in a memorandum of understanding, the group said in a statement.

Ghana is using the Group of 20’s so-called Common Framework to restructure its debt as part of measures to secure the IMF program.

The mechanism seeks to improve coordination between the traditional Paris Club of sovereign creditors and new ones like China, now the biggest lender to emerging nations. Zambia and Ethiopia are also using the framework to try and revamp their liabilities.

Tags: cediCedi gains as Ghana expects IMF bailout approval this weekghanaIMF
No Result
View All Result

Highlights

Asante Gold Announces Completion of $500m Financing Package to Boost Bibiani and Chirano Growth Plans

Ghana Pledges Gold Sector Reforms Ahead of Critical FATF Evaluation

Otto Addo Expected to Announce Squad for Crucial 2026 World Cup Qualifiers

How Artificial Intelligence Is Both Driving and Derailing Decarbonization

Ghana Revenue Authority Targets Retrieval of GHS 163m in Unpaid Taxes and VAT Arrears

Nurturing Dreams: Ghana’s Football Future Blossoms with Talent Identification Initiative

Trending

Features

Premier League: Ngumoha’s Late Goal Seals Liverpool’s Thrilling Win Over Newcastle

August 26, 2025

Premier League: Ngumoha’s Late Goal Seals Liverpool's Thrilling Win Over Newcastle Liverpool triumphed 3-2 over Newcastle United...

US Open: Venus Williams and Keys Bow Out as Alcaraz Launches Campaign

August 26, 2025

GSE Opens Week Higher as CPC Posts First Gain of 2025

August 26, 2025

Asante Gold Announces Completion of $500m Financing Package to Boost Bibiani and Chirano Growth Plans

August 26, 2025

Ghana Pledges Gold Sector Reforms Ahead of Critical FATF Evaluation

August 26, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.