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The Minister for Finance, Mr Seth Terkper, has given an assurance that first tranche of the IMF bailout fund will supplement other sources of foreign exchange for the Bank of Ghana and help shore up a weakening cedi.

The IMF board last Friday approved a $ 914 million bailout programme for Ghana out of which a first tranche of $114 million will be released to the Bank of Ghana this week.

Speaking on Accra-based Citi FM Tuesday, Mr Terkper downplayed concerns by some economists to the effect that the first tranche is insufficient to stabilise the cedi.

He said the first “tranche was “not small in terms of the seize of our economy”.

“Remember it is going to supplement what Bank of Ghana is earning already. It’s a supplement, it’s not like the only thing we are going to depend on,” he added.