The government of Ghana intends to raise GHS10.3 billion through bonds before the close of 2019 to finance various expenditures.
Out of the total amount, “GHS8,833.55 million is to rollover maturities and the remaining GHS1,472.32 million is fresh issuance to meet government’s financing requirements”.
This was announced by the Bank of Ghana (BoG) on Tuesday, 26 November 2019 via a release signed by BoG Secretary, Mrs Frances Van-Hein Sackey which contained the calendar for the issuance of the bonds.
This implies 85% of the borrowed funds will be paid to clients holding bonds whose maturities are due with only 15% left for the government to finance its projects.
The total amount is also approximately 28 per cent lower than what the government borrowed through bonds in the previous period between September to November 2019.
BoG said it aims to benchmark bonds through the issuance of the following instruments:
• the 91-day and 182-day will be issued weekly;
• the 364-day bill will be issued bi-weekly also through the primary auction with settlement being the transaction date plus one working day;
• securities of 2-year up to 5-year will be issued through the book-building method;
• the amount of GHS700.00 million for the 5-year bond in November 2019 is expected to be raised through the re-opening of the existing 5-year bond (GHGGOG047440) maturing on 28 November 2022;
• also, the amount for the 3-Year in December 2019 would be raised through the re-opening of the existing 3-Year bond (GHGGOG049875) maturing on 17 May 2021;
• issuance of the 20-year bond as a shelf offering will be re-opened based on investors request and on market conditions; and
• consistent with the MTDS, we may announce other tap-ins/reopening of other existing instruments depending on market conditions.
BoG further explained that the calendar factored the government’s liability management programme, domestic and international market developments and the Treasury & Debt Management objective of extending maturity periods of public debt.
Source: Class News
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I support the government to borrow ore, more and more they are not ste*aling our money they are not going Ashanti bauxite to Edward Akufo Addo they are using our resources t9 build Ghana against can hang themselves! this borrowing is not fir nkomfem fly away to Burkina but giving hope to Northerners who were neglected by John mahama and his ndc cartels. About 7000 Northerners have been given ghc8,500 each to start a business to earn decent lives, planting for food and jobs have been introduced, 1D1 dam is feasible not existing in a green book, school feeding is no more in debts ,their roads are being constructed and no evil machinations by the ndc will work, ndc will rot in opposition forever and ever AMEEEN! !!!!
PLS IS BAWUMIA AWARE OF THAT INTENTIONS BY GOV.? BAWUMIA SAID THEY WILL NT BORROW PLS NPP THE MONEY IS THERE. AKUFO ADO IN FACT, YOU ARE A BIG FAILED TOTALLY.
More borrowing, nothing to show for it, except stealing