I.M.F agreed with Ghana on 1$ billion aid deal.

Ghana reached an agreement with the International Monetary
Fund (IMF) on Wednesday for a three-year aid deal worth
around $1 billion aimed at restoring fiscal stability to the West
African state, a source close to the talks told Reuters.
The deal could represent a turning point for Ghana, a stable
democracy and producer of gold, cocoa and oil whose economy
lost much of its shine since it reported a budget deficit of
nearly 12 percent in 2013.
The agreement is the culmination of talks that began in
September after the government decided its own solutions to
its fiscal crisis were failing to convince investors.
"We have concluded the talks at the staff level and we're
looking forward to the Board's consideration in coming weeks,"
said a source who declined to be identified. The government will
submit a letter of intent to to the board and approval is
expected by April, the source said. There were no further
details.
Since 2013, GDP growth has slowed sharply to a projection for
2015 of 3.9 percent after years at which it stood around 8
percent. At the same time, the currency fell 31 percent last
year and public debt has soared.
The government of President John Mahama hopes the IMF deal
will enable the economy to rebound well before elections in 2016
and it is also working to overcome a power crisis that has angered many voters and hampered business growth.

Culled : Reuters