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    Leverage crises to improve fortunes of continent – Ofosu-Dorte

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    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Employ targeted-subsidized systems to check macro-economic challenges – Prof. Quartey

    Inflation in Africa: Some subsidy programs prolonging situation – Jeff Gable

    Cedi Summit comes off today at Alisa Hotel

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    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Cedi Summit comes off today at Alisa Hotel

    BoG’s supply of dollars to BDCs drops from 85% to 21% within 3 months – CBOD

    Societe Generale Ghana launches new ‘boafo loan product’ assist MSMEs

    CBOD calls for a more structured supply of Forex for petroleum products

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    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

    Citi Business Festival: Acquiring digital skills key to securing employment – Maximus Ametorgoh

    Bank of Ghana commences piloting of digital currency in Sefwi Asafo

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    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

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Economists warn of high interest payment on $700 million Eurobond

bycitibusinessnews
March 30, 2016
in Business, Local Economy, Top Stories
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Ghana is likely to pay high yields on its 700 million dollar Eurobond to be issued this year because of the country’s high debt levels.

[contextly_sidebar id=”MdzNMWzpnUfnJaUS6QbVlIXX38qYY0Yw”]This is according to economist and senior lecturer at the University of Ghana, Dr Ebo Turckson.

Ghana is to commence a road show for its fifth Eurobond in the coming days to raise some 700 million dollars for infrastructure development.

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Government is reported to be targeting below 10 percent at a maturity period of 15 years, slightly lower than the last figure of 10.75 percent after an initial target of 8.5 percent.

The Bank of Ghana’s recent summary of economic and financial data showed that Ghana’s total debt stock as at December  2015 stood at 97.2 billion cedis representing over 70% of Gross Domestic Product (GDP).

Speaking to Citi Business News economist and senior lecturer at the University of Ghana Dr Ebo Turckson said the country’s high debts levels are likely to give a yield of 11 percent.

“The yield normally depends on so many factors and I keep on saying the more we keep on piling up our debts the more those who lend to us will also see us as risky borrowers and therefore will want to inch up the interest rate a little bit. So with a current debt being about 76 percent of our GDP and we looking at going for more loans is going to increase our debt to GDP levels…definitely we will pay are higher interest rate it cannot be lower than that.” the Economist stated.

“…The last time that we sold, interest rate from the US was almost zero percent but now it has inched up a little bit and we would have to compete with assets sold in the US which is slightly higher than the last time we sold which is not good, … I don’t think it will go beyond 12 percent but I suspect it will be around 11 percent.” Dr. Ebo Turckson added.

–

By: Norvan Acquah – Hayford/citibusinessnews.com/Ghana

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