ADVERTISEMENT
Ghana to issue 17.4 billion cedis in debt securities
The two bonds will be issued through book-building transactions, and settlement will be on the last Monday of each month.
___6063060___https:______static.pulse.com.gh___webservice___escenic___binary___6063060___2017___1___17___11___cedis-604x330_1
The funds when raised will be used for government finances and debt restructuring in the first three months of this year.
Other uses will include a rollover forecast maturities and the building of buffers for liability management.
ADVERTISEMENT
Of this 15,504.43 million cedis will be used to rollover forecast maturities and the remaining 1,895.57 million cedis will be used to meet Government’s financing requirements and build buffers for liability management.
In a statement signed by the secretary of the Bank of Ghana Caroline Otoo it said, “per the proposed calendar, 91-day and 182-day Tbills will be issued weekly, 1-Year Note will be issued bi-weekly through the primary auction, with settlement occurring on first and third Mondays of each month while the 2-Year Note will be issued monthly also through the primary auction, with settlement occurring on second Mondays of each month.”
The papers will include a fresh five-year cedi bond this month worth 600 million cedis to support the budget, and a three-year 700 million cedi bond to be issued in February, the statement added.
"Government may consider accepting a reasonable amount above the target to build buffers which would be used to reduce borrowing at the short end of the yield curve," it said.
ADVERTISEMENT
READ ALSO: Number of Banks to increase
A 1 year 600 million note will be issued in total in the first quarter, 200 million cedis in each month, while a two year note of 400 million will be also be issued in January, February and March.
Meanwhile a 3 and 5 year bond will be issued in January and February.
In February, a 700 million cedi 3 year bond will be issued while in January 5 year 600 million cedi bond will be issued.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.com.gh
Recommended articles
My mom said she wouldn't have birthed me - Asantehene recounts journey to kingship
Dr. Amoako Baah criticizes AG's counsel on Cecilia Dapaah's case as nonsense
Don’t vote for Mahama; he will destroy my legacy – Akufo-Addo pleads with Ghanaians
Binance CEO accuses Nigerian officials of demanding secret crypto bribe
Man notorious for stealing worshipers' phones in churches finally arrested
Man sets himself on fire after failed attempt to kill his wife
Excessive use of cellphones, computers can make you go blind, here's how
Elections 2024: Here are 4 bold promises Bawumia has made to Ghanaians