US$5 billion is to be raised and used to support growth-oriented expenditures in the 2021 Budget
Government has commenced the processes for the 2021 International Capital Market (ICM) Funding Programme.
Government is expected to raise up to US$5 billion and the funds will be used to support growth-oriented expenditures in the 2021 Budget as well as to conduct liability management of both Eurobonds and Domestic Bonds.
According to a statement from the Finance Ministry, Bank of America, Citi Bank, Rand Merchant Bank, Standard Chartered Bank, and Standard Bank have been pencilled down as Lead Managers for the raising of the Eurobonds.
The statement further said the programme instruments consist of Eurobonds, Diaspora Bonds, Sustainable Bonds and Syndicated/Bridge Loans.
“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 the fiscal capacity to further support economic revitalization and recovery at this time”.
The government in the 2021 Expenditure in Advance Appropriation presented by Ken Ofori-Atta in October 2021, indicated its plan to raise $5 billion in Eurobond to finance the budget.
- Maximise revenue potentials and minimize non-discretionary expenditure – Government told
- Ghana to issue US$1 billion sustainable bonds in July – Adu Boahen
- These are the five bills Ghana’s 8th Parliament will consider as it resumes after recess
- Ghana’s economy has never been in good shape under Akufo-Addo’s government – Sosu
- Ghana’s debt-to-GDP for 2020 was 78% not 76.1% - IMF reveals
- Read all related articles
