Gov’t to borrow over Ȼ4 billion from domestic market this month

Government is expected to raise in excess of Ȼ4.2 billion from the domestic market in September alone.
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 Ȼ2.4 billion from issuing 91 day treasury bills and Ȼ950 million from 182 day treasury bills.
Government will also raise Ȼ120 million from issuing 1 year note, 300 million cedis from issuing 2 year note, and Ȼ440 million from issuing a 3 year fixed rate bond. Auction  for the 91 day and 182 day treasury bills will be conducted weekly, the one year note, every two weeks and the two year note once a month,and the settlement will be done on the first working day of the week following the auction.
The two year note and the three-year and five-year fixed rate bonds are now all available to both resident and non-resident investors. Meanwhile, the Ministry of Finance and the Bank of Ghana postponed the issuance of the five-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.

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