{"id":353894,"date":"2011-03-31T17:00:11","date_gmt":"2011-03-31T17:00:11","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/03\/31\/ghana-others-can-raise-over-5b-yearly-from-diaspora-bonds-%e2%80%93-economist\/"},"modified":"2011-03-31T17:00:11","modified_gmt":"2011-03-31T17:00:11","slug":"ghana-others-can-raise-over-5b-yearly-from-diaspora-bonds-economist","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/03\/31\/ghana-others-can-raise-over-5b-yearly-from-diaspora-bonds-economist\/","title":{"rendered":"Ghana, others can raise over $5b yearly from diaspora bonds \u2013 Economist"},"content":{"rendered":"
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You Are Here: Home<\/a> \u00bb General News<\/a>, Lead Story<\/a> \u00bb Ghana, others can raise over $5b yearly from diaspora bonds \u2013 Economist<\/p>\n

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\t\t\t \tPage last updated at Thursday, March 31, 2011 17:17 PM \/\/ <\/span>\n\t\t\t <\/div>\n

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\"\"<\/a>Ghana and other countries in sub-Sahara Africa are said to have the potential of raising between $5 billion to $10 billion from bonds in the diaspora.<\/p>\n

Lead economist at the World Bank Dilip Ratha says countries in the sub-region including Ghana\u00a0 can issue bonds in high-income countries in the diaspora where it has a lot of its nationals and this can reap a lot of money in billions of dollar in a year.<\/p>\n

Ratha was cited in a World Bank statement as saying: \u201cSub-Saharan African countries can potentially raise $5\u2013$10 billion a year in diaspora bonds. Countries with large diasporas in high-income countries that can potentially issue diaspora bonds include Ghana, Ethiopia, Kenya, Liberia, Nigeria, Senegal, Uganda, and Zambia.\u201d<\/p>\n

The statement was issued in Washington on March 30, 2011 on a report which was conducted by the Bank and the African Development Bank (AfDB) titled \u201cLeveraging Migration for Africa: Remittances, Skills, and Investments.\u201d<\/p>\n

\u201cAfrican\u00a0governments need to strengthen ties between diasporas and home countries, protect migrants, and expand competition in remittance markets otherwise, the potential of migration for Africa remains largely untapped,\u201d Ratha, who is also the main author of the report added.<\/p>\n

Mthuli Ncube, Chief Economist of the AfDB also said African banks can improve their access to international capital markets by issuing bonds that are securitized by future remittance inflows.<\/p>\n

\u201cThe African Development Bank, the World Bank and bilateral donors can play a significant role in facilitating remittance securitization and mitigating the risks to African countries of issuing these remittance-backed bonds\u201d, Ncube said<\/p>\n

According to Ncube, efforts can include technical assistance in project design and creditworthiness analysis, prudential debt management, and helping African countries obtain sovereign ratings.<\/p>\n

\u00a0<\/p>\n

By Ekow Quandzie<\/p>\n

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