Tag: Eurobond
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Ghana won’t return to IMF for financial support – Ofori-Atta reiterates
Finance Minister, Ken Ofori-Atta has downplayed reports that government is considering the option of returning to the International Monetary Fund, IMF, for some financial support to help stabilize the economy. Some economists and finance professionals have already predicted that the country will secure a program from the fund to help deal with the current revenue…
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Ghana adjudged most impressive bond issuer at Global Capital Bond Awards 2020
Ghana has been awarded as the Most Impressive African Issuer at the Global Capital Bond Awards 2020 after its successful issuance of the US$3 billion Eurobond at record rates in the first quarter of this year. Ghana beat Morocco and First African Corp in the category. Ghana on Tuesday, March 17, 2020, successfully issued US$3…
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US$3 billion Eurobond hits Bank of Ghana’s accounts
The US$3 billion Eurobond issued by the government earlier this week has hit the accounts of the Bank of Ghana, a source close to the central bank has told Citi Business News. The funds from the three-pronged bond deal reached the central bank last Tuesday. The proceeds from the bond provide an improved cover for…
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Cedi to enjoy continuous stability in Q1 2020 – Analyst
The Head of Trading at Absa Ghana, Jacob Brobbey, says the local currency will continue its strong performance against the dollar at least for the first quarter of the year. So far, the local currency, according to the Bank, has appreciated about four percent in value against the dollar since the start of the year.…
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New US$3 billion Eurobond will not balloon public debt – Ofori-Atta
The Finance Minister, Ken Ofori-Atta, has given the assurance that the country’s debt to GDP, which is the total value of all goods and services produced, would not escalate to alarming levels with the issuance of the latest Eurobond. Ghana’s debt to GDP is currently around 63 percent. Following Ghana’s eighth appearance on the Eurobond…
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Ghana set to issue longest ever Eurobond at 41-years
The government’s planned US$3 billion Eurobond will be done in three tranches at three different maturity periods with the longest being a 41-year bond. The 41-year bond thus becomes the longest-dated bond ever issued by an African country trumping the 31-year bond the government issued at its last Eurobond appearance in 2019. In addition to…
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Ghana to accept bids for US$3 billion Eurobond today
Ghana will today, Tuesday, February 4, accept bids from investors for its US$3 billion Eurobond after the successful completion of a week-long roadshow in Europe and the United States. A government delegation led by the Finance Minister, Ken Ofori-Atta, brought their roadshow, which had seen them interact with investors from Europe and North America, to…
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Moody’s backs gov’t to break election year overspending cycle
Credit rating agency, Moody’s is backing the government to halt the fiscal slippages that have characterised every election year since 2004. The rating agency, in a press release issued over the weekend, revised the country’s outlook from stable to positive while affirming its long-held B3 rating. The announcement means the rating agency is optimistic about…
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Gov’t embarks on Eurobond roadshow to raise US$3 billion
The government’s plan of borrowing up to US$3 billion from the Eurobond market to support the 2020 budget will commence this week as a delegation led by the Finance Minister, embarks on a series of meetings with investors. Finance Minister Ken Ofori-Atta who got the approval of Parliament to raise up to US$3billion on the…
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Mortgage sector upbeat about $1bn investment
Players in the mortgage industry have described the government’s decision to support the industry with a billion dollars as a step in the right direction. The players are confident the action will help address the housing deficit while revamping the sector. The Finance Minister, Ken Ofori Atta earlier disclosed to Citi Business News Ghana’s maiden thirty year…