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Gov’t denies recent reports of another Eurobond issue

April 5, 2016, 8:39 a.m.

Government has denied recent reports it is embarking on a roadshow in preparation for another Eurobond issue.

 According to the Finance Ministry it will instead be embarking on a “Non Deal Roadshow”, explaining it is part of its “routine investor relations activities designed to share information on financial and economic developments with investors.”

 The ministry adds that "there is no intent to issue any Eurobond on this particular mission."

The Reuters news agency reported a “likely launch of a new Eurobond” by the Finance Ministry in a recent publication.

However, government explains the roadshow is aimed at showcasing the turnaround of the Ghana economy and its medium-term potential to investors in Europe and the United States.

Recent speculations government may issue another Eurobond has been fueled by an announcement earlier this year that it may turn to investors outside to raise about a billion dollars. 

Some analysts have warned that Ghana is likely to pay a high interest on the planned Eurobond issue because of the current economic environment. 

Government last year paid almost 11% as interest on the Eurobond issue, a figure many have described as too high.

Source: Myjoyonline.com

Disclaimer: The views expressed in this news report do not necessarily reflect the position of the National Development Planning Commission (NDPC)

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