Ghana begins processes to raise US$5.0 billion on international capital market

Ken Ofori Atta Finance Minister Agyapa Royalties Presser Finance Minister designate, Ken Ofori-Atta

Tue, 9 Mar 2021 Source: www.ghanaweb.com

Government through the Ministry of Finance has commenced processes for the 2021 International Capital Market (ICM) Funding Programme.

The US$5 billion funding under the programme, when finalized, would be used to support growth-oriented expenditures in the 2021 budget and to conduct liability management of both domestic bonds and Eurobonds.

A statement issued by the Ministry of Finance on Tuesday, March 9, 2021; further explained that Government is in the process of mandating Bank of America, Citi Bank, Rand Merchant Bank, Standard Chartered Bank and Standard Bank as Lead Managers under the Programme.

“One of the key mandates for the banks is to advise the Government on various alternative funding structures and options especially for the Eurobond, that would best fit Ghana’s funding requirements and provide fiscal capacity to further support economic revitalization and recovery at this time,” the statement read.

Instruments under the ICM Programme consist of Eurobonds, Diaspora Bonds, Sustainable Bonds, and Syndicated/Bridge Loans.

Read the full statement below:

Source: www.ghanaweb.com
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