Monday, 22 January 2018

Govt to raise GH¢11bn in first quarter of 2018

Government is seeking to raise GH¢11.1 billion (GH¢11,133.91 million) in the first quarter of 2018 through debt securities.

Of the amount, GH¢8,961.30 million will be used to roll over maturities.
The remaining GH¢2,164.61 million will be used to meet government’s financing requirements for the period.
A statement issued by the Debt Management Office of the Ministry of Finance stated that about GH¢5 billion in 91-day Treasury bills will be issued in January, February and March, while a total of GH¢1.8 billion in 182-day Treasury bills will also be issued through the period.
Meanwhile, one-year and two-year notes, amounting to about GH¢2.5 billion, will also be auctioned.
A three-year GH¢600 million and five-year GH¢1 billion bond will be auctioned in February and March respectively.
This year’s figure is much lower than the figure raised by government in the same period last year.
In the first quarter of 2017, government announced it will raise GH¢17,400 million through bonds and treasury bills, and other government securities.
The cash was to be used to roll over forecast maturities, meet government’s financing requirements and build buffers for liability management.
Economists say the reduction in this year’s figure reinforces government’s move to reduce the country’s debt stock.

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