The government says it will continue to raise funds from the international capital market to fund the 2021 budget.
This will comprise the issuance of sovereign bonds of $3 billion with the option to increase it to U$5 billion should market conditions prove favourable, Finance Minister, Ken Ofori-Atta disclosed.
He is therefore requesting an approval from parliament for the issuance of the sovereign bonds of US$3 billion with the option to increase it to US$5 billion should market conditions prove favourable.
Out of the amount to be raised, U$1.5 billion will be used to support the 2021 budget and US$3.5 billion for liability management.
Ghana first went into the international capital market in 2007 to raise funds to support the budget. It has since been going to the market to borrow to support the budget and liability management.
Meanwhile, government will spend GHS7.7 billion of the GHS27 billion it is seeking approval from parliament on salaries for the first quarter on next year.
A little over GHS7 billion will also be used to settle interest payments, whilst GHS1.9 billion will go into capital project.
Mr. Ofori-Atta said the Controller and Accountant-General will ensure that all Ministries, Departments and Agencies operate strictly within the levels set in the Expenditure in Advance of Appropriation to be approved by this August House.
Latest Stories
-
Let’s prioritize research quality in higher education institutions for industrial growth-Prof. Nathaniel Boso
59 mins -
Herman Suede is set to release ‘How Dare You’ on April 24
5 hours -
Heal KATH: Kuapa Kokoo, Association of Garages donate 120k to support project
5 hours -
KNUST signs MOU with Valco Trust Fund, Bekwai Municipal Hospital to build student hostel
5 hours -
The influence Ronaldo has on people, Cadman Yamoah will have same on the next generation – Coach Goodwin
6 hours -
Gender Advocate Emelia Naa Ayeley Aryee Wins prestigious Merck Foundation Awards
7 hours -
South Africa bursary scandal suspects granted bail
7 hours -
Ecobank successfully repays $500m Eurobond due April 18
7 hours -
Re: Doe Adjaho, Torgbui Samlafo IV, call for Unity among Paramountcies in Anlo
7 hours -
Extortion and kidnap – a deadly journey across Mexico into the US
7 hours -
Rihanna says fashion has helped her personal ‘rediscovery’ after having children
8 hours -
Development Bank Ghana targets GH¢1bn funding for commercial banks in 2024
8 hours -
Shatta Movement apologises to Ghana Society of the Physically Disabled after backlash
8 hours -
Sammy Gyamfi writes: Tema-Mpakadan Railway Project; A railway line to nowhere
9 hours -
Bright Simons: Is the World Bank saving or harming Ghana?
9 hours