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    Ghana’s 2022 economic outlook to remain positive; GDP projected to grow by 5.3% – AfDB report

    African governments tasked to look within the continent in their bid for transformation

    COCOBOD closes purchases for 2021/2022 main crop cocoa season

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Old Mutual celebrates 177th anniversary globally, 10 years in Ghana

    Gov’t expenditure needs to be checked to help deal with inflation – ICAG

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    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

    Government partners private companies to mine abandoned iron ore in Oti Region

    Manufacture of petroleum products push PPI to 31.2% in April

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    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

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    We’ll avert any looming food crisis with effective planning – AfDB Boss

    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

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Investors to snob Ghana’s 5 year bond over ‘Bawumianomics’

bycitibusinessnews
March 26, 2015
in Banking And Finance, Business, Top Stories
Dr. Mahamadu Bawumia

Dr. Mahamadu Bawumia

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Government fears investors may shy away from the 5 year domestic bond it intends to issue today March, 26, 2015.

[contextly_sidebar id=”waYZv7ttqV4DHOdFquuSe6n7XEqGHJNg”]According to a deputy finance minister Cassiel Ato Forson investors may not patronize the bond due to the recent analysis of the economy by a former Deputy Governor of the Bank of Ghana Dr Mahamadu Bawumia in his lecture on the IMF deal.

Cassel Ato Forson, Deputy Finance Minister
Cassel Ato Forson, Deputy Finance Minister

‘You know what this has done to Ghana, we are going to the bond market, we have a 5 year bond which we are auctioning today and we were hoping it will b successful, but he has ended up sending fear and panic among investors and this is not good.’ He said.

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The Bank of Ghana will today auction a 5- year fixed rate bond on behalf of government.

Government intends to raise GHȻ440 million from the auction to refinance government’s debts.

Apart from paying its maturing debts, the funds raised from the bond will also be used to finance government’s liquidity challenges.

The bond which will be available to both resident and non-resident investors will be the second bond the Bank of Ghana is issuing this year.

The first bond was successful and was oversubscribed.

But Cassiel ato forson fears today’ auction may not be successful due to recent comments made by Dr Bawumia on the economy.

‘I think he must apologize because he has sent the wrong signal to investors and this could affect the success of this bond’. He said

By: Vivian Kai Lokko/citifmonline.com/Ghana

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