Growth slump: Ghana gets $1bn loan from IMF
February 27 , 2015
Ghana has secured a $1 billion loan from the IMF in an attempt to revive its economy.
The three-year agreement was clinched after months of talks following the country’s inability to meet deficit, inflation and growth targets.
The country's economy had been growing at an annual rate of 8% thanks to a boom in exports such as cocoa and gold, but the growth slumped to 4.2% last year amid falling commodity prices and a depreciating currency.
The IMF loan will be given in installments starting from April, media reports said.