Ghana Plans To Sell $1Billion In Eurobonds
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Ghana plans to sell Eurobonds of up to $1 billion by next week to fund the 2016 budget and refinance debt repayments due next year, government sources said yesterday.
Ghana plans to sell Eurobonds of up to $1 billion by next week to fund the 2016 budget and refinance debt repayments due next year, government sources said yesterday.
The Bank of Ghana has maintained the policy rate at 26 percent again.
Ghana's B3 rating and negative outlook reflect the sovereign's large gross financing needs, high debt burden and low debt affordability, Moody's Investors Service said in an annual report published this past week.
Finance Minister, Seth Terkper has hinted to Citi Business News Ghana will issue its 5th Eurobond by October 2016. Parliament in December, 2015 gave government the green light to go ahead and issue the Eurobond.