Ghana to raise US$7.8 billion in domestic debt in first half of 2016

The government of Ghana will through the Bank of Ghana seek to raise at least 30 billion Ghana cedis (7.8 billion U.S. dollars) in domestic borrowings, the Ministry of Finance has said.

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Bank of Ghana
Bank of Ghana

According to the Issuance Calendar for the first half of the year sighted on the website of the Ministry of Finance, the program was developed in line with the Medium Term Debt Strategy (MTDS).

Bank of Ghana
Bank of Ghana

The MTDS specifies the aggregate amount to be raised by instruments in the period.

It stated: “We believe the combination of an overall plan for the half year and a more accurate detailed monthly borrowing plan, presented well in advance, should meet the requirements of market participants as it will ensure greater predictability and transparency.”

In January 2016, the issuance will cover 91-Day Treasury Bills; 182-Day Treasury Bills; One-Year Notes; Two-Year Notes, and Three-Year Fixed Rate Bonds.

The Bank of Ghana has already published the prospectus to issue the 500 million cedis (131 million dollars) for the month of January. Enditem

Source: Xinhua

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