Government is expected to raise in excess of 4.2 billion cedis from the domestic market this month.
[contextly_sidebar id=”3ZL9GFHWz57DtXvQbh2EPZoALRxloHaX”]This is according to the issuance calendar for Government of Ghana securities, for the period July to December 2015.
According to the calendar government will raise 2.4 billion cedis from issuing 91 day Treasury bills and 950 million cedis from 182 day treasury bills.
Government will also raise 120 million cedis from issuing 1 year note, 300 million cedis from issuing 2 year note, and 440 million cedis from issuing a 3 year fixed rate bond.
Auction for the 91 day and 182 day treasury bills will be conducted weekly , the 1 year note every two weeks and the 2 year note once a month thus on Fridays and the settlement will be done on the first working day of the week following the auction.
The 2 year note and the 3 year and 5 year fixed rate bonds are now all available to both residents and Non-resident investors.
Meanwhile the Ministry of finance and the Bank of Ghana postponed the issuance of the 5 year Treasury bond scheduled for August due to what they described as recent market developments.
It is unclear when the bond will be reissued but the Finance ministry together with the Central bank in a statement said they are committed to Ghana’s medium to long term debt strategy and will keep the market updated on developments with the issuance.
By: Rabiu Alhassan/citifmonline.com/Ghana