It also indicated that, it injected about US$10.8 billion directly into the economy out of which US$3.6 billion was spent on operating costs.
The investor firm is also projecting a 30.1% fall in value of the cedi to the dollar in 2023. This means, the woes of the cedi will not get better anytime soon.
The financial support which is expected to come in tranches, according to Fitch, at least US$1.0 billion dollars may be released to Ghana government by the end of the first quarter of 2023.
Already, the US$750 million loan from the African Export Import Bank (AFREXIMBANK) has hit the accounts of BoG and now waiting for the US$1.3 billion cocoa syndication loan.
Equinor and Chevron filed a suit in the US four years ago asking a court to enforce a $1.1 billion award issued by an arbitration tribunal against the NNPC in 2015. Shell and Exxon initiated similar proceedings in New York in 2014 over a $1.8 billion arbitration award.
The president of the Ghana Union of Traders Association (GUTA) has called on the Bank of Ghana (BoG) to relax the laws on transacting business in dollars at the banks.
The Central Bank admits that in the initial stages of the new digital currency, there was a gap, however, the regulator has braced itself to make it cleaner while building public interest.
Financial experts have expressed verified opinion in their response to a question on whether the policy rate could be an effective measure to tame the galloping inflation which currently is around 31.7%.
Describing the situation as harsh, the Chief Executive of the Ghana National Chamber of Commerce and Industry (GNCCI) pointed out in an interview that, businesses were expecting moves that will reassure them—not a further increase in their cost of production.
This means that cost of credit to households and the private sector would rise steadily in the next couple of months.