General News Tue, 26 Mar 2019

Euro Bond issuance: Be grateful to God that NPP is in power - Bantama MP tells Ghanaians

New Patriotic Party (NPP) MP for Bantama and government’s spokesperson on Finance and Economy, Mr Okyem Aboagye, has asked Ghanaians to give thanks to God for allowing them to vote massively for the NPP government.

The MP reacting to the recent Eurobond issued by government disclosed that, the Euro Bond went on well because it was oversubscribed.

The legislator posited that the successful issuance of the 3 billion Dollars Eurobond at record rates was an indication of a vote of confidence in the Ghanaian economic by foreign investors.

Ghana last week Tuesday successfully issued 3 billion dollars in a single transaction of three tranches.

At the close of a road show in London, the appetite for the 2019 sovereign bond had swelled resulting in orders totaling 21billion dollars, about seven times more than the amount expected.

During the process, bids submitted exceeded US$21 billion – compared to over US$8 billion in bids recorded in 2018. At US$21 billion, this is the highest ever order-book for bonds issued in Sub-Saharan Africa.

Speaking in an exclusive interview with Rainbow Radio’s Parliamentary correspondent Afia Kwarteng, he said, the over subscription has affirmed to the world and investors in particular that, the measures adopted in stabilising the Ghanaian economy has worked perfectly well.

He further explained to our reporter the successful issuance at this time when Ghana is exiting the IMF ECF program is evidence that the global investor community is confident that the managers of the Ghanaian economy are on an irreversible track of stability.

When asked as to what Ghanaians should look out for Mr Okyem Aboagye disclosed that, this bond is coming to help the economy most especially to bring into execution of the 2019 budget hence Ghanaians should look out for projects to be done in their respective constituencies.

Source: rainbowradioonline.com
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