• The $3billion Eurobond raised by the country in March this year, accounted for this jump in the debt.
• The new funds are expected to finance government projects outlined in the 2021 Budget and grow the economy in the post-COVID-19 era
The Issuance Calendar released by the Finance Ministry has revealed that the government of Ghana is set to borrow a little over Gh¢2 billion fresh funds between June and August 2021 to support the economy.
According to the calendar, the government plans to issue about ¢21.96 billion, out of which ¢19.86 billion will be used to pay a maturing debt or rollover maturities.
The new funds are expected to finance government projects outlined in the 2021 Budget and grow the economy in the post-COVID-19 era.
The calendar shows that the government will issue GH¢11.2 billion via the 91-day Treasury bills, whilst GH¢1.71 billion will be mobilized through the issuance of the 182-day T-bills.
According to a Myjoyonline report sighted by GhanaWeb, the government is expected to borrow as much as GH¢8.13 billion in the month of July 2021, the highest among the three months.
However, GH¢1.8 billion is expected to be raised from the 3-year, 6-year and 7-year bonds respectively, while GH¢1 billion is expected to be raised through the issuance of a 10-year bond in the month of August 2021.
GH¢1.45 billion is expected to be raised via a one-year bill, GH¢1.2 billion will be mobilized through the issuance of the two-year bond.
Meanwhile, the government was expected to have borrowed GH¢4.12 billion in fresh funds in the second quarter of this year which will end this month.
Chunk of the funds to be mobilized will come from the 91-day Treasury bills, a clear intention of the government’s quest to reduce foreign borrowing, but could phase out the private sector from access to funds on the domestic market. Read Full Story
Facebook
Twitter
Pinterest
Instagram
Google+
YouTube
LinkedIn
RSS