{{Ghana plans to issue its first 7-year domestic bond next month in renewed efforts by the cocoa, gold and oil exporter to borrow over longer terms, the country’s treasury head said on Friday.}}<\/p>\n
Adams Nyinaku told Reuters the 100 million-cedi ($49 million) bond, open to offshore investors, will be used to benchmark subsequent bonds and manage debt more effectively.<\/p>\n
The West African nation is currently paying yields of over 20 percent on its 91-day bills.<\/p>\n
The central bank will also issue 600 million cedis worth of 5-year bonds in September, mainly to roll over maturing debts, and another 7-year paper worth 100 million cedis in November to support current projects, Nyinaku said.<\/p>\n
“This is the first time we are going to issue a 7-year bond and it is as a result of the government’s commitment to use medium- and long-term papers to manage its debts efficiently,” he said.<\/p>\n
Ghana’s central bank issued three 3-year bonds in the first half of this year, mainly to retire maturing debts and also to support of the local cedi currency which has so far weakened 6 percent against the dollar this year.<\/p>\n
It is currently preparing to embark on a roadshow on July 15 for a second Eurobond of up to $1 billion.<\/p>\n
The government has yet to formally announce the issue date but officials told Reuters it would be before July 25.<\/p>\n
Ghana’s parliament last week approved Barclays and Citi Group as transactions advisers for the Eurobond, proceeds of which would be used for debt restructuring and infrastructure projects. <\/p>\n
{agencies}<\/p>\n","protected":false},"excerpt":{"rendered":"
{{Ghana plans to issue its first 7-year domestic bond next month in renewed efforts by the cocoa, gold and oil exporter to borrow over longer terms, the country’s treasury head said on Friday.}} Adams Nyinaku told Reuters the 100 million-cedi ($49 million) bond, open to offshore investors, will be used to benchmark subsequent bonds and […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[100],"byline":[170],"hashtag":[],"class_list":["post-8918","post","type-post","status-publish","format-standard","hentry","category-news","tag-africa","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":null,"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/8918","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=8918"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/8918\/revisions"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=8918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=8918"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=8918"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=8918"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=8918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}