The government of Ghana is to borrow a little above \u00a22 billion in fresh funds between June and August 2021, the latest Issuance Calendar released by the Finance Ministry has revealed.<\/p>\n\n\n\n
In all, the government plans to issue about \u00a221.96 billion, out of which \u00a219.86 billion will be used to pay maturing debt or rollover maturities.<\/p>\n\n\n\n
Chunk of the funds to be mobilized will come from the 91-day Treasury bills, a clear intention of government\u2019s quest to reduce foreign borrowing, but could crowd out the private sector from access to funds on the domestic market.<\/p>\n\n\n\n
The new funds is expected to finance government projects outlined in the 2021 Budget.<\/p>\n\n\n\n
In terms of the period, the government will borrow as much as GH\u00a28.13 billion in the month of July 2021, the highest among the three months.<\/p>\n\n\n\n
According to the calendar, the government will issue \u00a211.2 billion via the 91-day Treasury bills, whilst \u00a21.71 billion will be mobilized through the issuance of the 182-day T-bills.<\/p>\n\n\n\n
\u00a21.8 billion each is, however, expected to be raised from the 3-year, 6-year and 7-year bonds respectively.<\/p>\n\n\n\n
Also, \u00a21 billion is expected to be raised through the issuance of a 10-year bond in the month of August 2021.<\/p>\n\n\n\n
Whilst \u00a21.45 billion is expected to be raised via a one year bill, \u00a21.2 billion will be mobilized through the issue of the two-year bond.<\/p>\n\n\n\n
According to the government, it will issue the 91-day and 182-day weekly and the 364-day bill bi-weekly. Securities of 2-year up to 10-year will be issued through the book-building method.<\/p>\n\n\n\n
The government was expected to have borrowed \u00a24.12 billion in fresh funds in the second quarter of this year which will end this month.<\/p>\n\n\n\n
Ghana\u2019s Public debt rises by \u00a213bn to hit \u00a2304.6bn<\/strong><\/p>\n\n\n\n Ghana\u2019s public debt stock rose by \u00a213billion to hit \u00a2304.6 billion in March 2021, the lBank of Ghana (BoG) Summary of Economic and Financial Data disclosed.<\/p>\n\n\n\n This was equivalent to 70.2% of Gross Domestic Product (GDP), lower than the 76.1% registered in December, 2020.<\/p>\n\n\n\n The fall in debt to GDP ratio is probably due to the expected expansion in the size of the economy, despite the impact of Covid-19.<\/p>\n\n\n\n The $3billion Eurobond raised by the country in March this year, accounted for this jump in the debt.<\/p>\n\n\n\n Between December, 2020 and March, 2021, \u00a213billion was added to the country\u2019s debt. The debt stood at \u00a2291.6 billion at the end of last year.<\/p>\n\n\n\n Government to borrow \u00a22.9bn in fresh funds between June and August 2021<\/p>\n\n\n\n Source:Joyonline.com<\/p>\n\n\n\n Send your news stories to dannyboy744@gmail.com<\/a> and via WhatsApp on +233 266777777<\/strong><\/p>\n\n\n\n