Business News of Wednesday, 12 December 2012

Source: Charles Addo Darko

BoG to issue Ghc400 million bond

The Bank of Ghana (BoG) will issue a GHC 400 million three-year government bond on January 18, 2013.

This is expected to be used to service maturing debts. The Bank of Ghana has also hinted that it would issue two more identical bonds in March and June as part of government's debt management programme.

Next month’s bond issue will be the first of several more expected to be issue in 2013.

2012 saw the Bank of Ghana issue a mixture of 3 and 5 year bonds mainly to finance infrastructure development and management its debt.

The heavily oversubscribed bonds also helped to mop up liquidity in support of the depreciating cedi at the time.