Audio By Carbonatix
The International Monetary Fund’s (IMF) board on Monday approved the next disbursement of about $190 million under Ghana’s aid program, two sources at the Washington-based lender told Reuters.
The commodity exporter will begin a roadshow this week to market a $2.5 billion Eurobond issuance to restructure debt and support the government’s 2018 budget, a senior government official said.
The West African country is in its final year of the $918 million credit deal signed in April 2015 to fix its economy, dogged by high deficits, inflation and a distressing public debt.
Finance Minister Ken Ofori-Atta told Reuters last week that the government was looking to issue the Eurobonds with a coupon in the 7 percent range, well below previous sales.
“The process for the issuance is ongoing and the roadshow is going to start this week,” a senior government official told Reuters on Monday.
The government appointed Standard Chartered Bank, JP Morgan, Bank of America and Citibank to advise on the bond sale, with Fidelity Bank and IC Securities participating as local partners.
Latest Stories
-
Faisal Islam: Trump’s Greenland threats to allies are without parallel
3 minutes -
Ex-GBA President accuses NDC of driving move to remove GBA from constitution
2 hours -
Trump’s double pardon underscores sweeping use of clemency
3 hours -
Morocco and Senegal set for defining AFCON final under Rabat lights today
4 hours -
Trump tariff threat over Greenland ‘unacceptable’, European leaders say
4 hours -
Evalue-Ajomoro-Gwira MP kicks against VALCO sale
5 hours -
Mercy Johnson withdraws alleged defamation case against TikToker
5 hours -
Ghana accepted Trump’s deported West Africans and forced them back to their native countries
6 hours -
No evidence of theft in Unibank Case – A‑G explains withdrawal of charges against Dr Duffour
6 hours -
Labourer remanded for threatening to kill mother
6 hours -
Court remands farmer over GH¢110,000 car fraud
7 hours -
Tension mounts at Akyem Akroso over ‘sale’ of royal cemetery
7 hours -
Poor planning fueling transport crisis—Prof. Beyuo
7 hours -
Ahiagbah slams Prof. Frimpong-Boateng over “fake” party slur
8 hours -
Family traumatised as body of Presby steward goes ‘missing’ at mortuary
8 hours
