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Gov't to borrow GH¢4.9bn in debt securities in April

April 11, 2016, 9:21 a.m.

Government will borrow GH¢4.9 billion through treasury bills, notes and bonds in the month of April, 2016.

Out of this amount, GH¢2 billion will be borrowed through 91-Day Treasury bill, GH¢1.7 billion through 182-Day Treasury bill, GH¢270 million in 1-Year Note, GH¢450 million in two-year note and GH¢500 million in three-year fixed rate bond.

A statement from the Bank of Ghana revealed that the 91-Day and 182-Day bills will be issued weekly while the 1-Year Note will be issued at the primary auction every two weeks (biweekly) in an average amount of GH¢50 million per every auction.

Additionally, on April 14, 2016, an amount of GH¢170 million will be issued through tapping/re-opening of the 3-Year bond, maturing April 24, 2017 and this will be available to resident and non-resident investors.

The 2-Year Note will be issued through the primary auction once in a month to raise GH¢250 million.

An additional amount of GH¢200 million will be issued on April 26, 2016 through tapping/reopening of the 3-Year bond, maturing April 23, 2018 and will be available to resident and non-resident investors.

The 3-Year Fixed Rate Bonds will be issued through the Book-Building process.

Data from the Bank of Ghana show that as at December 2015, Ghana’s total debt stood at $25.6 billion.

Of this figure, the external debt hit GH¢57.8 billion in December 2015, which is 43.3 per cent of GDP.

Source: Thefinderonline.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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