Gov't to borrow GH¢4.9bn in debt securities in April
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.
Disclaimer: The views expressed in this news report do not necessarily reflect the position of the National Development Planning Commission (NDPC)