Bawumia Reveals Hidden IMF Conditions That Restricted Ghana’s Forex Market

Former Vice President Mahamudu Bawumia disclosed that Ghana’s IMF program previously limited monthly foreign exchange interventions to $80 million, a restriction he claims exacerbated the cedi's depreciation before being lifted in 2025.

28 Aug, 09:14 — 28 Aug, 09:14

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myjoyonlineMixed4d ago

How IMF capped forex intervention to $80m a month, lifted restriction in 2025 after reserves accumulated – Bawumia reveals

Former Vice President and NPP Presidential Candidate, Dr Mahamudu Bawumia, has disclosed a “hidden” conditionality under Ghana’s IMF programme that he says constrained the foreign exchange market and contributed to the rapid depreciation of the cedi between 2022 and 2024.

By Ernest Arhinful

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Bawumia Reveals Hidden IMF Conditions That Restricted Ghana’s Forex Market

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How IMF capped forex intervention to $80m a month, lifted restriction in 2025 after reserves accumulated – Bawumia reveals

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