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Govt to borrow GHȼ6 billion from money market in February

Government has announced that it intends to borrow 6,030 billion cedis in February from the money markets through bonds, treasury bills and notes.

In all 3 billion cedis will be sought through 91-Day Treasury Bills.

While 2.1 billion cedis in 182-Day Treasury Bills will be sought as well, with an average weekly sum of 422 million cedis to be issued in that month.

Also a 1-Yaer Note of up to 120 million cedis and a 300 million cedi 2-Year Note will also be auctioned.

Meanwhile a 500 million cedi 5-Year Fixed Rate will also be auctioned this month.

An earlier bond issued by government last month which was Ghana’s first bond for the year was slightly undersubscribed with low patronage from foreign investors.

Meanwhile the total marketable debt of GH?6,030.00 million to be issued this month is made up of maturities of GH¢5,553.94 million and net issuance of GH¢476.06 million.

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