The Bank of Ghana (BoG) will next week issue a three-year bond to raise an amount of GHC 400 million.
It will be the third bond issued this year.
Government in March cancelled plans to issue a 5-year domestic bond worth 300 million cedis without providing any reasons.
There were reports that government had put on hold the issuance of all short term and medium term bonds to avoid a further spike in already high yields.
Ghana this year plans to issue a series of short- and medium-term debt as part of government’s debt restructuring.
They included a 3-year bond, 5-year bond and a 7-year bond auction.
But the 5-year bond was put on hold early this year.
However a notice from the central bank, said government will go ahead to issue a three year domestic bond, worth 400 million cedis on the 31st July, 2014.
The proceeds from the bond which is open to both resident and nonresident investors will be used to fund government’s budget.
Finance Minister Seth Tekper last week asked Parliament to approve a supplementary budget estimate of a little over 3 billion cedis for the 2014 fiscal year to enable government effectively run the affairs of the country.
By: Vivian Kai Mensah/citifmonline.com/Ghana
