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Tag Archives: Eurobond

Mortgage sector upbeat about $1bn investment

house

Players in the mortgage industry have described the government’s decision to support the industry with a billion dollars as a step in the right direction. The players are confident the action will help address the housing deficit while revamping the sector. The Finance Minister, Ken Ofori Atta earlier disclosed to Citi Business News Ghana’s maiden thirty year bond will be channeled into ...

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$1bn 30 yr bond to support mortgage industry

Finance Minister, Ken Ofori-Atta

Ghana’s maiden thirty year bond will be channeled into reducing the country’s rising housing deficit. This will also be achieved through the provision of mortgages and the completion of the government’s affordable housing unit projects. Finance Minister, Ken Ofori Atta disclosed this in an exclusive interview with Citi Business News after the issuance of Ghana’s sovereign bond. The thirty year ...

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Eurobond: Ghana raises $2bn at lowest interest rates

Eurobond money

Government secured more than it targeted for its Eurobond which was closed on Thursday, May 10, 2018,  in London. The government was seeking to raise 750 million dollars. However upon completion, the Sovereign bond accrued 2 billion dollars from investors. The bond was in two categories; 10 and 30 year bonds respectively. The 10 year bond raised 1 billion dollars ...

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Parliament approves govt’s $2.5 bn Eurobond

eurobond

Parliament has approved government’s 2.5 billion dollar Eurobond to finance major government infrastructure. The proceeds of the bond are expected to finance the provision of capital expenditure captured in this year’s (2018) budget for sectors such as the health, roads & highways and railway. The Finance Minister, Ken Ofori Atta in the 2018 budget presentation stated that the government will ...

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Ghana clears 2007 Eurobond

eurobond

Ghana has cleared her first Eurobond issued in 2007. A former Finance Minister, Seth Terkper who confirmed this to Citi Business News said the government cleared the final installment of the bond on October 4, 2017. According to him, the government resorted to about 200 million dollars from proceeds from oil and previous bonds issued to retire the debt. Reacting ...

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Economists laud govt’s ‘no Eurobond plan’ for 2017

Economist Dr. Lord Mensah

Some economists have lauded the government’s commitment not to issue any Eurobond this year. They explain that the development should give room to deal with the country’s ballooning debts. The Vice President, Dr. Mahamudu Bawumia has refuted assertions that the recent non-deal road show embarked on by a team of government officials is likely to culminate in the issuing of ...

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No Eurobond to be issued this year – Bawumia

Eurobond money

Vice President Dr. Mahamudu Bawumia has stated that the NPP government will not issue any Eurobond and add unto the country’s debt burden. According to him, the government has resolved not to embark on any such move at least within this year. Speaking in an interview with the Head of Citi Business News desk, Vivian Kai Lokko on the sidelines ...

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 Government’s cost of borrowing to decrease soon – Terkper

Finance Minister, Mr. Seth Terkper

Government is optimistic its cost of borrowing on the international market will reduce as it realigns its fiscal policies and enhance financial discipline. Ghana’s cost of borrowing on the international market had gone up to about 10.25 percent until government recently issued its 5 year 750 million dollars Eurobond, at a coupon rate of 9.25 percent. Some financial watchers have ...

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Low investor confidence reduced 5th Eurobond maturity

Economist Dr. Lord Mensah

Some economists have strongly suggested that the lack of investor confidence in the Ghanaian economy, led to the reduced maturity period for government’s 750 million dollar Eurobond. According to a Senior Lecturer at the University of Ghana, Dr. Lord Mensah, the lack of trust in the Ghanaian economy led to a coupon rate of 9.25%. “This shows how investor confidence ...

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3rd IMF tranche: Ghana presents data on energy sector

imf

Government has disclosed it is working to present data on the country’s energy sector to the International Monetary Fund (IMF) which should lead to the release of the third tranche of the bailout funds. According to the Finance Ministry, the information has become necessary as the Fund considers the power sector as one of the critical factors to the progress ...

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