Economic news for Sunday, October 17, 2021

Source: www.ghanaweb.com

File photo of the Ministry of Finance

• Ghana intends to return to international capital markets

• It is according to the Ministry of Finance

• Ghana issued bonds worth US $ 3.025 billion in March 2021 comprising the first tranche of 4 Eurobonds

The finance ministry said the government is not expected to return to international capital markets this year.

According to the ministry, this is due to current market conditions, the strong reserve position and the recent allocation of US $ 1.007 billion of Special Drawing Rights (SDRs) for Ghana by the International Monetary Fund.

A statement released by the ministry on the sustainable finance framework explained the local currency, the cedi also remained relatively stable.

“It is important to note, however, that given current market conditions, the strong reserve position, the recent allocation of US $ 1.007 billion in Special Drawing Rights (SDRs) and the relatively stable currency, the Ghanaian government does not intend to access international capital. markets again this year ”, we read in part in the press release.

In March of this year, Ghana successfully issued bonds worth $ 3.025 billion, comprising the first 4-tranche Eurobond which included an innovative zero coupon bond, under the ICM 2021 program.

The 4-tranche transaction was executed after a three-day virtual tour with a series of bond meetings with investors primarily domiciled in North America and Europe.

According to the Ministry of Finance, based on feedback received from various investor engagements, including the introductory meetings in March, Ghana has accelerated its plans to develop and establish a sustainable finance framework (the “framework”) that could be used as part of any future ESG. related or related issues in the capital markets.


Source link

Leave a Reply

Your email address will not be published.