The Bank of Ghana has auctioned a 3- year fixed rate bond on behalf of government.
Government intends to raise GHȻ630 million from the auction to refinance government’s debts.
Apart from paying its maturing debts, the funds raised from the bond will also be used to finance government’s liquidity challenges.
The purpose of the auction will be to ‘rollover maturities, restructure government debt and also for liquidity management’, the central bank said.
The bond will be available to both resident and non-resident investors.
This is the first bond the BoG is issuing this year.
It will issue another 3 year GHȻ630 million bond in May this year.
Other bonds that will be issued in the first half of this year are two 440 million cedi 5 year bonds and a 400 million cedi seven year bond.
Credit: citifmonline