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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

Ghana gov’t targets 4.1 bln USD in Q3 domestic bonds  

ACCRA, (Xinhua) -- The Government of Ghana targets to raise a total of 17.43 billion Ghana cedis (4.07 billion U.S. dollars) in its domestic bonds to be issued during the third quarter (Q3) of 2017.

According to the Issuance calendar of the Ministry of Finance sighted here on Monday, 14.15 billion cedis (3.25 billion dollars) of the total targeted amount will be used to roll over some maturing debts.

“The remaining 3.27 billion cedis (750 million dollars) are fresh issuance to meet government’s financing requirements,” the calendar explained.

The government raised a total of 17.4 billion cedis (4.1 billion dollars) from the domestic market in the first quarter while raising 22.25 billion cedis (5.11 billion dollars) during the second quarter as part of its debt management and public sector financing strategies.

One of the key bonds to be issued during the second quarter will be the 15-Year Fixed Bond in August, 2017, which will be a Structured Bond to convert an existing 91-Day Treasury Bills investment by the National Pensions Regulatory Authority (NPRA) into a 15-year bond.  

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