The currency of a small African country can become one of the most profitable in the world

Inspenet.

Published: June 1, 2023

Share on social networks

Inspenet, June 1, 2023

Ghana’s currency may become one of its most profitable after the International Monetary Fund approved a $3 billion loan for the West African country, Bloomberg reported.

Experts predict a staggering 5.3% growth for Ghana’s currency

According to the medium that cites its own data, the cedi, whose value is equivalent to 0.09 dollars, could register a growth of 5.3% by the end of this month and thus show the fourth best result among 150 currencies in the world.

Courage Boti, an economist at GCB Capital bank in Ghana, said that “the cedi is regaining stability on a predictable trajectory,” adding that the currency’s growth could stall after the initial jump, however.

The IMF approved the loan in mid-May. Within the framework of this financial aid package, the African country will initially receive 600 million dollars.

The Financial Times noted that the approval came after creditors agreed to a restructuring of the country’s debt. This is an important measure to resolve the economic and financial crisis in Ghana.