Prime News Ghana

Delay in release of 3rd tranche of IMF loan not hurting Eurobond roadshow - Quartey

By Justice Kofi Bimpeh
Mona Quartey
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Deputy Minister of Finance, Mona Quartey has refuted notions that the delay in the third tranche of the IMF extended credit facility has affected the road show for the Eurobond.

Speaking to GBC Business News, the minister stated government is still in the market waiting for the right pricing for the Eurobond.

She contends that the right thing for government to do is continue to monitor the market and take opportunity of the Euro bond to get a good pricing for Ghana.

“Therefore we will continue to monitor the market and be opportunistic in the way that we put out the Eurobond to set a good pricing for Ghana.”

Madam Quartey also believes that the road show embarked on by the minister with his team tells a story about the turnaround in the Ghanaian economy

“The road show that minister went on with the team, went around to tell the story about the turn around and the investors were satisfied that Ghana’s economy is turning around.”

She declared government is expecting the Eurobond bought in 2007 to mature in 2017.

“In fact we had an opportunity to buy back 100,000,000 of the 2007 Euro bond which matures next year which was great.

“But the pricing of the new bond was not favourable in general, not necessarily for Ghana,” she added.

Mona Quartey indicates “because we are in the market we cannot talk about timing. We have to keep close to our chairs until we have actually hit the transaction.”