Tuesday, May 18, 2021

Government to raise $5 billion to support 2021 budget

The public authority of Ghana has initiated cycles to raise $5 billion from the global capital business sectors to help development arranged uses in its 2021 spending plan and to direct responsibility the board of both Eurobonds and Domestic Bonds.

A Ministry of Finance proclamation gave on Tuesday, March 9, 2021, said the public authority expects to raise the sum through Eurobonds, diaspora bonds, manageable bonds, and partnered/connect credits.

The assertion added that the public authority is currently commanding Bank of America, Citi Bank, Rand Merchant Bank, Standard Chartered Bank and Standard Bank as Lead Managers under the Program.

“One of the vital orders for the Banks is to exhort the Government on different elective subsidizing designs and choices particularly for the Eurobond, that would best accommodate Ghana’s financing necessities and give monetary ability to additional help monetary renewal and recuperation right now,” the assertion said.

An authority of the Ministry of Finance in a different meeting revealed to Bloomberg that the country needs to begin showcasing the obligation to financial backers after Friday’s spending introduction to Parliament.

Ghana Commences Processes to Mandate Lead Managers for the 2021 International Capital Market Funding Program

Accra, ninth March, 2021 – The Government of Ghana has initiated the cycles for the 2021 International Capital Market (ICM) Funding Program.

The Program is for up to US$5.0 billion and will be utilized to help development situated uses in the 2021 Budget and to lead obligation the board of both Eurobonds and Domestic Bonds.

The Program instruments comprise of Eurobonds, Diaspora Bonds, Sustainable Bonds, and Syndicated/Bridge Loans.

The Government is currently commanding Bank of America, Citi Bank, Rand Merchant Bank, Standard Chartered Bank and Standard Bank as Lead Managers under the Program.

One of the critical commands for the Banks is to exhort the Government on different elective financing designs and choices particularly for the Eurobond, that would best accommodate Ghana’s subsidizing prerequisites and give monetary ability to additional help monetary rejuvenation and recuperation right now.

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