Parliament approves contentious $1b Eurobond

Seth Terkper55Finance Minister – Seth Terkper

Parliament has finally approved the contentious $1 billion Eurobond.

The deal was approved through a voice vote with nearly a full session of the House.

An attempt to get the money approved Tuesday night was fiercely confronted by the minority who voted 67-66 against the deal.

Government has said $750 million out of the money will be used to service existing bonds whose repayments are due.The remaining $250,000 will be used to finance domestic debts if conditions are favourable.