In a press statement released on December 12, 2012, AfDB said the line of credit will be drawn in multiple African currencies including the Ghanaian Cedi
, Nigerian Naira, the Kenyan Shilling, the Zambian Kwacha, the Mozambican Metical and the Tanzanian Shilling.
Inflation is now firmly in single digits, and the Ghanaian cedi
has remained broadly stable against the dollar, underpinned by an improved external position, "Christina Daseking reported in September this year, after leading an IMF research team to Accra.
The currencies to be replaced are: The Nigerian Naira, the Ghanaian Cedi
, the Guinean Franc, the Sierra Leonean Leone and the Gambian Dalasi.
The line of credit will be drawn in multiple African currencies including the Nigerian Naira, the Kenyan Shilling, the Zambian Kwacha, the Ghanaian Cedi
, the Mozambique Metical and the Tanzanian Shilling.
The AfDB, which enjoys 'triple-A' credit rating, is also promoting debt markets through issuing credit quality papers in Botswana pula, Ghanaian cedi
, Nigerian naira and Tanzanian shillings.