Business News of Friday, 25 May 2012
Source: Joy Online
The Minister of Finance and Economic Planning, Dr Kwabena Duffour says the over subscription of the 3-year bond issued is an indication of the continued confidence investors have in the economy despite cedis’ decline.
The bond was oversubscribed by more than two times the target amount of 300 million cedis. About half of the bids came from foreign investors. Analysts have however raised questions about the 24 percent returns offered to bidders at the auction as fears by investors of their investments.
Dr. Duffour added that he expects the dollars coming in to help stabilized the cedi
Meanwhile, Government has been receiving funds from Wednesday’s bond issue.