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Eurobonds

Ghana has issued a total of 4 eurobonds so far all culminating to $3,750,000,000.

This debt was culminated between 2007-2015.

Breakdown of Eurobond

1st Eurobond

Figure ……………….$750 million

Year issued…………….September 2007

Duration…………10 years

Maturity date…………………October 2017

Yield on bond……………………8.5%

Purpose ……………fund infrastructure projects

President issued under …….President John Agyekum Kufour

Finance minister issued under……… Kwadwo Baah-Wiredu

Governor issued under ……….. Dr. Paul A. Acquah

2nd Eurobond 

Figure ………..$1 billion

Year issued…..2013

Duration ………….10yrs

Maturity date……..August 2023

Yield on bond…..7.875

Purpose .. ……. retire 2007 Eurobond , fund capital expenditure 2013 Budget. refinance domestic debt. counterpart funding

President  issued under …….President John Mahama

Finance minister issued under……..Seth Terkper

Governor issued under ……….. Dr. Henry Kofi Wampah

3rd Eurobond

Figure ………………….$1billion

Year issued…………….September, 2014

Duration………..12 years

Maturity date…………………….January 2026

Yield on bond……………….8.125%

Purpose …… fund capital expenditure in the 2014 Budget, refinance domestic and external debt and counterpart funding.

President  issued under …….President John Mahama

Finance minister issued under….. Seth Terkper

Governor issued under…………..Dr. Henry Kofi Wampah

4th Eurobond

Figure………….$1billion

Year issued……..September, 2015

Duration…….15 years

Maturity date …………….. 2030

Yield on bond…………….10.75

Purpose ……… refinancing of maturing domestic debt

President issued under….. John Mahama

Finance Minister issued under ……Seth Tekper

Governor issued under ……Dr Henry Wampah

Source: Finance of Ministry

Source: Finance of Ministry

Ghana’s high appetite for borrowing pushed it into a Highly Indebted Poor Country (HIPC) in the nineties.

The IMF and the World Bank launched the HIPC initiative in 1996 to ensure that no poor country faces a debt burden it will be unable to manage.

 

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