Finance Minister Dr. Cassiel Ato Forson has announced plans by the government to reopen the domestic bond market as part of a renewed debt management strategy aimed at reducing borrowing costs and strengthening fiscal stability in August 2025.
Presenting the 2025 Mid-Year Budget Review to Parliament on Thursday, July 24, Dr. Forson explained that the government’s approach to debt management would now prioritise the use of treasury bills strictly for cash management purposes.
“Our debt management strategy is to use treasury bills for cash management only and reopen the domestic bond market to finance the budget deficit,” he told the House.
According to him, the decision to return to the domestic bond market is intended to establish a more competitive and efficient primary market, one capable of offering the necessary volume and pricing to help the government minimise its borrowing costs.
To facilitate this process, Dr. Forson revealed that starting August 2025, the government will begin the selection of new bookrunners, financial institutions that will help lead and distribute government bonds.
“The focus will be on banks and investment dealers with the capacity to ensure wider market distribution and offer advisory services on pricing and structuring,” he added.
According to the Finance Minister, this move reflects the government’s broader commitment to restoring investor confidence, deepening domestic capital markets, and achieving long-term debt sustainability.