Gov’t Adds GH¢4bn To Debt Stock
Government borrowed a total of ¢4.63 billion from both local and foreign investors to finance its activities for January 2016.
The loans were raised from Tenders 1467 held on January, 8 2016 and issued on January 11, 2016; 1468 held on January, 15 2016 for Government of Ghana securities and issued on January, 18, 2016; 1469 held on January, 22, 2016 and issued on January, 25, 2016 and 1470 held on January, 29 2016 and issued on February 1, 2016.
Tender 1467 yielded ¢1,761.47 million (or ¢1.76 billion) while Ten¬der 1468 yielded ¢1,021.31 million (or ¢1.02 billion) and Tender 1469 raised ¢963.82 million. Tender 1470 produced ¢887.79 million.
For January this year, ¢2,100 million was scheduled to be collected via the 91-day T-bill, with ¢1,700 million planned to be received from the 182-day T-bill.
According to its borrowing calendar for the first half of this year – the Medium Term Debt Strategy (MDTS) – forecast maturities would make up GH¢27,779.00 million of the amount to be borrowed while net issuance would total GH¢2,951.00 million.
In 2015, government borrowed about ¢50 billion through its Issuance Calendar for its securities.http://ghanapoliticsonline.com
A large chunk of the money bor¬rowed was used to pay back loans it contracted from resident and non-resident investors which had matured.
This year, government expects to borrow an amount of ¢30.47 billion for the first half from the issuance of bonds, notes and Treasury bills.
The total debt stock as at the end of September, 2015 was GH¢92.2 billion, approximately 69.1 per cent of GDP.