No Result
View All Result
Saturday, April 1, 2023
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    BoG cautions against use of Ghana Cedi for bouquets and hampers

    CUTS International pushes for passage of Competition bill

    DBG partners UGBS to deepen development finance

    GH¢5.5bn approved by Parliament not only for Blackshield customers – SEC

    BoG assures of enhanced educational campaigns to ensure proper handling of local currency

    Youth in Accountable Governance calls for passage of outstanding revenue bills

    GRA reiterates calls for businesses to embrace  E-VAT

    IES predicts drop in fuel prices from April 1

    Journalists trained on the Enrolment of cocoa farmers in pension scheme

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    CUTS International pushes for passage of Competition bill

    DBG partners UGBS to deepen development finance

    Bank of Ghana increases Monetary Policy rate to 29.5%

    Industry experts convene to discuss diversification strategies for pension funds

    It’s time to give women top posts in multilateral institutions – GCBL Chairman 

    Global Chamber of business leaders enters into partnership with IEFS

    Gold for Oil policy will save Ghana $4.8bn annually – Veep

    Energy Minister scheduled to speak on Ghana’s near-term opportunities at NAEPEC 2023

    Standard Chartered appoints Ebenezer Twum Asante as Chairman of Board of Directors

  • TECHNOLOGY

    Cyber Security Authority commences licensing and accreditation regime

    Twitter is reportedly planning to charge businesses $1,000 per month to keep gold verified checks

    Ghana withdraws $672m back-tax demand from MTN Group

    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Ghana and South Africa urged to leverage on AfCFTA to boost bi – lateral relations

    Silicon Valley Bank crisis: What led to stock crash, what lies ahead?

    Medical devices market projected to expand by $ 7.1 billion by close of year

    African Union adopts Africa Prosperity Dialogues AfCFTA action plan

    Third World Network Africa urges Africans to be strategic about AfCFTA

    5 important things to know about the African Continental Free Trade Area agreement

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Nigeria’s national debt hits an all time as the country struggles with repayment

  • FEATURES
  • Videos
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    BoG cautions against use of Ghana Cedi for bouquets and hampers

    CUTS International pushes for passage of Competition bill

    DBG partners UGBS to deepen development finance

    GH¢5.5bn approved by Parliament not only for Blackshield customers – SEC

    BoG assures of enhanced educational campaigns to ensure proper handling of local currency

    Youth in Accountable Governance calls for passage of outstanding revenue bills

    GRA reiterates calls for businesses to embrace  E-VAT

    IES predicts drop in fuel prices from April 1

    Journalists trained on the Enrolment of cocoa farmers in pension scheme

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    CUTS International pushes for passage of Competition bill

    DBG partners UGBS to deepen development finance

    Bank of Ghana increases Monetary Policy rate to 29.5%

    Industry experts convene to discuss diversification strategies for pension funds

    It’s time to give women top posts in multilateral institutions – GCBL Chairman 

    Global Chamber of business leaders enters into partnership with IEFS

    Gold for Oil policy will save Ghana $4.8bn annually – Veep

    Energy Minister scheduled to speak on Ghana’s near-term opportunities at NAEPEC 2023

    Standard Chartered appoints Ebenezer Twum Asante as Chairman of Board of Directors

  • TECHNOLOGY

    Cyber Security Authority commences licensing and accreditation regime

    Twitter is reportedly planning to charge businesses $1,000 per month to keep gold verified checks

    Ghana withdraws $672m back-tax demand from MTN Group

    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Ghana and South Africa urged to leverage on AfCFTA to boost bi – lateral relations

    Silicon Valley Bank crisis: What led to stock crash, what lies ahead?

    Medical devices market projected to expand by $ 7.1 billion by close of year

    African Union adopts Africa Prosperity Dialogues AfCFTA action plan

    Third World Network Africa urges Africans to be strategic about AfCFTA

    5 important things to know about the African Continental Free Trade Area agreement

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Nigeria’s national debt hits an all time as the country struggles with repayment

  • FEATURES
  • Videos
No Result
View All Result
Citi Business News
No Result
View All Result

Ghana to issue fifth Eurobond by October

bycitibusinessnews
May 31, 2016
in Government, Top Stories
Mr. Seth Terkper, Minister of Finance

Mr. Seth Terkper, Minister of Finance

Share on FacebookShare on TwitterShare on Whatsapp

Finance Minister, Seth Terkper has hinted to Citi Business News Ghana will issue its 5th Eurobond by October 2016.

Parliament in December, 2015 gave government the green light to go ahead and issue the Eurobond.

[contextly_sidebar id=”oCLS6JSBMBy27fE2bFbdZDZCKBbVgIFC”]Proceeds from the bond will be used to support the country’s growing infrastructural needs, and to  repay part of its maturing debts including the country’s first Eurobond which matures next year.

ADVERTISEMENT

Speaking to Citi Business News at the sidelines of the Graphic Business Breakfast series, the Minister of Finance Seth Terkper said the Eurobond will be issued either in July or October this year.

“You know emerging markets bonds are important and we are watching the developments in the market. We normally do the bond in July or October so you don’t want to announce now. This is because the markets can change at any time, with the US raising the rates that itself overnight can affect the rates you can get on the market.

So you consider a lot of factors and so you don’t make categorical statement today and the markets change and somebody comes and says but you said this is what will happen that is why we try to be a bit hesitant in some of the statements regarding the bond.” Mr. Terpker stated.

High interest

Some economists have warned Ghana will attract a very high coupon rate if it goes ahead to issue the 5th Eurobond and have advised government to abandon its plans to issue the bond.

According to them, investors will demand high rates due to the country’s upcoming elections, inflationary trends as well as its high debt  levels among others.

Ghana’s last Eurobond was issued at a coupon rate of 10.75 for 15 years which was described as one of the highest in the region.

Early this year, the Finance Minister led a team of government officials to meet with investors to showcase the country’s growing economic prospects in a non – deal road show.

Seth Terpker tells Citi Business News government needs the cash to retire the country’s first Eurobond which matures in 2017.

‘Ghana is already in the market, the country has the 2017 Eurobond maturing to be refinanced. So we have to think about the way to pay for the debts’.

Ghana in 2007 issued its first Eurobond and successfully raised $750 million at a coupon rate 8.50%.

There are currently three more Eurobonds outstanding, with maturity profiles including August 2023, January 2026.

As at December 2015 Ghana’s public debt stood at 94.5 billion cedis.

–

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

Related Posts

Business

CUTS International pushes for passage of Competition bill

byEmmanuel Oppong

Think Tank, Consumer Unity and Trust Society (CUTS) is urging government to quicken efforts to pass the Competition bill to...

Read more

GH¢5.5bn approved by Parliament not only for Blackshield customers – SEC

BoG assures of enhanced educational campaigns to ensure proper handling of local currency

Youth in Accountable Governance calls for passage of outstanding revenue bills

GRA reiterates calls for businesses to embrace  E-VAT

IES predicts drop in fuel prices from April 1

Journalists trained on the Enrolment of cocoa farmers in pension scheme

Next Post
Finance Minister, Mr. Seth Terkper

Terkper justifies tax on pensions and allowances

Video on Demand: Business Weekly

ADVERTISEMENT
Citi Business News

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.

Navigate Site

  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.