Ghc 300 Million to be raised from Bonds this 3rd Quarter

Ghana’s government has disclosed its plans to issue a Ghc300 million three-year bond during this third quarter.

The disclosure was made by Ghana’s Ministry of Finance in collaboration with the Bank of Ghana following the formal opening of bond sales for 2017 third quarter on Friday 21st July.  

The Ghc300 million 3-year bond will form part of an ongoing effort to raise funds to finance the nation’s budget expenditures such as repayment of its over Ghc127 billion national debt, capital projects like the railway network, stimulus package to support the private sector, among others.

In addition, different from the plan used for earlier bond in the year which involved commercial banking institutions in the country, the Ghc300 million bond issuance will be handled directly by the Bank of Ghana.

The government of Ghana hopes to issue a number of domestic money market instruments across the year as an effective means  weaning the country off aid and credit facilities as part of plans not to extend the current Extended Credit Facility programme with the International Monetary Fund (IMF) when it expires in 2018.