{
  "id": 3936409,
  "title": "How IMF capped forex intervention to $80m a month, lifted restriction in 2025 after reserves accumulated – Bawumia reveals",
  "url": "https://urgent.news/2026/08/28/how-imf-capped-forex-intervention-to-80m-a-month-lifted-restriction-3936409",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-28T09:45:47.000Z",
  "source": {
    "name": "Adom Online",
    "slug": "adom-online",
    "url": "https://www.adomonline.com/how-imf-capped-forex-intervention-to-80m-a-month-lifted-restriction-in-2025-after-reserves-accumulated-bawumia-reveals/"
  },
  "original_language": "en",
  "account": "Former Vice President and NPP Presidential candidate Dr Mahamudu Bawumia revealed a \"hidden\" condition under Ghana's IMF programme that restricted foreign exchange intervention. Speaking in Accra, Bawumia disclosed that the IMF had capped the Bank of Ghana's ability to support the cedi at $80 million per month, from 2022 to 2024. This restriction, aimed at accumulating foreign exchange reserves, left Ghana constrained in its ability to meet monthly demand for dollars to pay for essential imports. The cedi depreciated rapidly during this period due to the scarcity of foreign exchange. However, in January 2025, after the country accumulated sufficient reserves through the Gold for Reserves programme, the IMF restriction was lifted. The Bank of Ghana has since been able to inject up to $1 billion per month into the foreign exchange market, laying the groundwork for the current stability of the cedi.",
  "summary": "Former Vice President and NPP 2028 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. Speaking on Thursday during a meeting with members of the Ghana Small-Scale Miners Association […]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "MyJoyOnline Ghana",
        "title": "How IMF capped forex intervention to $80m a month, lifted restriction in 2025 after reserves accumulated – Bawumia reveals",
        "url": "https://urgent.news/2026/08/28/how-imf-capped-forex-intervention-to-80m-a-month-lifted-restriction",
        "published": "2026-08-28T09:14:11.000Z"
      },
      {
        "outlet": "Starr FM",
        "title": "Gold-for-Reserves programme lifted IMF restrictions that capped BoG’s interventions in forex at $80 million a month – Bawumia",
        "url": "https://urgent.news/2026/08/28/gold-for-reserves-programme-lifted-imf-restrictions-that-capped-bogs",
        "published": "2026-08-28T10:03:03.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}