Audio By Carbonatix
Gov’t will meet investors later this week to gauge appetite for its proposed sale of as much as $3 billion in Eurobonds, according to two people familiar with the matter.
Officials will organize meetings in Boston, New York and London from Wednesday, said the people, who asked not to be identified because they’re not authorized to speak publicly about the matter.
If the feedback is favourable it may lead to an immediate issuance, but the ministry will return at a later date if price demands are too high, the people said.
West Africa’s second-biggest economy needs $2 billion in foreign-currency debt to help finance its 2019 budget and will take on an additional $1 billion if it’s able to secure loans or securities at lower rates than it’s paying for existing liabilities.
The country is going to the market at a time when the cedi is trading at a record low and is this year’s worst performer among 140 currencies tracked by Bloomberg.
Finance Minister Ken Ofori-Atta didn’t immediately answer a call for comment on the investor meetings.
In a separate call earlier on Monday, Ofori-Atta said difficult budget demands were behind Ghana’s application for a $750 million bridge loan, even though the offshore bond sale would be imminent.
The Finance Ministry presented a proposal for a syndicated facility to lawmakers last week. The short-term loan will be repaid as soon as the bond sale has been finalized.
“First-quarter demands are quite challenging,” Ofori-Atta said. “The banks agreed to the bridge financing arrangement to help us meet our needs during the period.”
Ghana is exiting a bailout program under the International Monetary Fund, with a final review due by April 4.
The country entered the deal in 2015 when chronic budget overruns and a currency crisis caused inflation and its debt obligations to soar.
Latest Stories
-
Police restore calm after violent cutlass clash at Akyem Oda New Station
9 minutes -
Bono Region to host maiden Ghana Youth Agriculture Summit on May 22
12 minutes -
Millions still suffering despite available asthma medicines – WHO envoy
25 minutes -
Ghana to face Nigeria in a friendly ahead of Commonwealth Games
56 minutes -
Today’s Front pages: Thursday, May 7, 2026
1 hour -
BECE 2026 progressing smoothly in Old Tafo Municipality
1 hour -
Health Minister assures full implementation of Akosa Committee recommendations on Charles Amissah death
1 hour -
TDC gives property owners 30 days to settle ground rent debts
1 hour -
New WHO report reveals failures in hiring, retention of Africa’s health workers
1 hour -
Afoko holds consultations with Bawumia, Akufo-Addo, Kufuor and others ahead of NPP conference
1 hour -
Boakye Agyarko intensifies his message of unity, discipline, and victory
2 hours -
The Agbodza Axe: Why Deadlines are the New Social Contract
3 hours -
NIA aims to build a dynamic database – Corporate Affairs Director
3 hours -
Court refuses businessmen bail over GH¢49m gold fraud
3 hours -
Patronise local chicken to sustain Nkoko Nketenkete Programme – Coordinator
3 hours