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Economic news for Wednesday March 10, 2021
Source: Goldstreet Company
03/10/2021
$ 5 billion to be raised and used to support growth-oriented spending in budget 2021
The government has started the processes for the 2021 International Capital Market (ICM) financing program.
The government is expected to raise up to $ 5 billion and the funds will be used to support growth-oriented spending in the 2021 budget and to manage Eurobond and domestic bond liabilities.
According to a statement from the Department of Finance, Bank of America, Citi Bank, Rand Merchant Bank, Standard Chartered Bank and Standard Bank have been named as leaders in lifting Eurobonds.
The statement further states that the program instruments consist of Eurobonds, Diaspora Bonds, Durable Bonds and Syndicated / Bridge Loans.
“One of the main mandates of the banks is to advise the government on various alternative financing structures and options, in particular for the Eurobond, which would best meet Ghana’s financing needs and provide the fiscal capacity to further support revitalization. and economic recovery at this time ”.
The government in the 2021 loan advance expenditure presented by Ken Ofori-Atta in October 2021, has indicated its intention to raise $ 5 billion in Eurobonds to finance the budget.
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