The Ghanaian cedi is expected to maintain relative stability in the coming weeks, supported by the anticipated release of $370 million from the International Monetary Fund (IMF) later this month.

The funds represent the fifth tranche under Ghana’s $3 billion Extended Credit Facility (ECF) and are subject to approval by the IMF Executive Board, which is scheduled to meet on June 3. This follows a successful fourth review of Ghana’s economic reform programme in April and, once approved, will bring total disbursements under the programme to $2.24 billion.

Governor of the Bank of Ghana, Dr. Johnson Asiama, expressed optimism that the incoming funds—along with expected support from the World Bank—will strengthen Ghana’s foreign reserves and reinforce exchange rate stability.

“As you are aware, the IMF disbursement is subject to board approval. We are expecting the $370 million, and in addition, the World Bank is also likely to release some funds. These inflows will enhance our reserves, but we anticipate that will happen later in June,” Dr. Asiama explained.

The IMF programme has been a cornerstone of Ghana’s post-crisis economic recovery, offering both financial assistance and technical support as the country pursues fiscal consolidation, structural reforms, and debt sustainability measures.

The upcoming inflows are expected to ease short-term pressure on the foreign exchange market and help curb imported inflation, especially as the mid-year economic cycle picks up.

Analysts note that the strengthened reserve position could also boost investor confidence and contribute to greater economic stability in the second half of the year.