Finance Minister, Ken Ofori-Atta, has said the rebound is attributed to the launch of the debt exchange programme and the staff-level agreement with the International Monetary Fund on a $3 billion bailout.

Speaking at a press conference on Monday, December 19, 2022, the minister stated that the government is willing to do everything possible to maintain the gains made in reviving the economy.

“The launch of the debt exchange programme, coupled with the signing of the Staff-Level Agreement with the International Monetary Fund, have aided our stability efforts and have in particular contributed significantly to the rebound of our currency," he said.

“While accommodating the inputs of stakeholders, we must do all we can to sustain the gains of these initiatives keeping in sight the urgency of obtaining IMF Board approval in Q1 2023. The cost of this not succeeding will be too huge for our economy.”

He also justified the suspension of all payments of external debts saying it will help the economy sustain the gains it has made over the last weeks.