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Home Economy

Government to borrow Ghs 21.9 billion in 3 months – Finance Ministry

4 years ago
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Government, for the period between June and August this year, will be borrowing some Ghs 21.9 billion from the domestic debt market.

This is according to government’s debt issuance calendar for June, July and August.

Borrowings to be made by government within the specified period will largely be made through the weekly and bi-weekly issuance of 91, 182 and 364 days T-bills.

In addition to the T-bills issuance will be the issuance of 2-year and up to 10-year bonds through the book-building method.

Of the gross amount of Ghs 21,960.00 million to be borrowed, Ghs 19,864.43 million will be used to roll over maturities with the remaining Ghs 2,095.57 million used to meet government’s short-term financing requirements.

With increased borrowings on the domestic debt market, the country’s public debt stock is expected to rise with domestic debt as a ratio of government’s total debt stock also expected to increase.

Ghana’s total debt stock at the end of March 2021 was Ghs 304.6 billion, compared with the Ghs 292.7 billion at the end of December 2020.

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Of the total debt stock, domestic debt was Ghs 163.6 billion (37.7 percent of GDP), while the external debt was Ghs 141.0 billion (32.5 percent of GDP).

The Issuance Calendar developed and based on the Net Domestic Financing provided in the 2021 Budget Statement and the Medium Term Debt Management Strategy (MTDS) for 2021-2024, forms part of efforts by government to improve market transparency in the issuance of Government securities. 

It depicts securities that are intended to be issued in respect of Government’s Public Sector Borrowing Requirements for the period from June to August, 2021.

In addition, the calendar takes into consideration Government’s liability management programme, market developments (both domestic and international) and the Treasury & Debt Management objective of lengthening the maturity profile of the public debt.

Source: norvanreports
Tags: borrow Ghs 21.9 billion in 3 monthsdomestic debt marketGovernment’s Public Sector Borrowing Requirements
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