Ghana to issue $3.24 billion in bonds in second quarter, central bank says

ACCRA, April 11 (Reuters) – Ghana plans to issue 24 billion cedi ($3.24 billion) in bonds in second quarter according to a government debt issuance calendar published by the central bank.

It said 20 billion cedi would be used to roll over maturing bonds, while the remaining 4.5 billion is fresh issuance to meet the government’s financing requirements.

Ghana’s economy is currently facing a raft of financial woes including rampant inflation, a depreciating currency and a heavy debt burden.

Its credit ratings have recently been downgraded for reasons including concerns for the country’s access to international capital markets.

The calendar showed that the government plans to issue 91-day and 182-day treasury bills weekly, while 364-day treasury bills will be issued every two weeks.

Two- and six-year debt will be issued through the book-building method, it showed.

This is a developing story…