Government is planning to raise about GH¢25 billion through bonds and treasury bills for the rest of year. The report showed that about Gh¢24 billion of the funds raised will be used to clear previous bonds issued that are maturing, with the remaining going to support fresh commitments. The calendar showed that government's next auction will be a 5-year bond to raise GH¢1 billion in September, which government has indicated it is considering issuing it in US dollars. A three-year bond will also be issued in November to raise GH¢700 million and it is also hoping to issue its first 10-year local bond this year to raise GH¢200 million. The amount of GH¢400.00 million for the 5-year bond in August 2016 will be raised through reopening of the existing 5-year bond (coupon of 24.75%) maturing July 19, 2021, with settlement on August 29, 2016.

Source: All Ghana News August 29, 2016 14:48 UTC