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$1b Eurobond finally approved by Parliament

Ghana’s Parliament has finally approved the contentious $1 billion Eurobond through a voice vote with nearly a full session of the House.

The approval was given Wednesday afternoon.

On Tuesday the minority side of the House fiercely rejected the deal and voted 67-66 against the deal.

However, it has been approved.

The Ghana Government has explained that  $750 million out of the money will be used to service existing bonds whose repayments are due.

The remaining $250,000 will be used to finance domestic debts if conditions are favourable.

Source: Topfmonline.com

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