Business News of Thursday, 4 June 2020Source: goldstreetbusiness.comWork towards diaspora bonds issuance underway - Finance MinisterKen Ofori-Atta, Finance MinisterThe Ministry of Finance and the Bank of Ghana have begun work towards issuing Ghana’s first ever Diaspora Bonds. Minister of Finance, Ken Ofori-Atta hopes to begin a phased issuance of diaspora bonds before the end of 2020 with the entire issuance programme aiming to raise up to US$3 billion in proceeds. The bonds would be designed as medium term investments rather than long term since the latter’s appeal is to institutional investors rather than individuals. Currently interest rates on government bonds in the United States are below two percent per annum, a situation more or less replicated in Western European countries. The design of the planned diaspora bonds is being done by the Ministry of Finance, the BoG and selected private sector investment bankers and fund managers who are working on a consultancy basis.

Source: GhanaWeb June 04, 2020 12:22 UTC