Business News of Tuesday, 10 March 2015
Minister of Finance Seth Terkper will be on the floor of Parliament on Thursday, March 12 to among other things outline details of the Eurobond expected to be issued this year.
Reports say government is considering issuing a 10-year $1 billion Eurobond sometime this year in order to settle debts that will mature in 2017.
Speaking on the issue on TV3’s News 360, Deputy Finance Minister Cassiel Ato Forson said the details of the bond will be made known on Thursday on the floor of the House.
“In terms of quantum will be announced by the Finance Minister. In terms of the use of proceeds will be announced by the Finance Minister and going forward what we want to do,” he said on Monday, March 9.
Many are of the opinion that issuing a Eurobond in 2015 may conflict with the programme to be reached with the International Monetary Fund (IMF).
“It will not conflict with the arranged agreement we have reached with the Fund,” countered Mr Forson, who is also Member of Parliament for Ajumako-Enyan-Essiam Constituency.
“Indeed, the Fund is aware. They’ve given their blessing.”
Ghana in 2014 listed three separate Eurobonds on the Ghana Stock Exchange.