Gov’t Borrows GH¢4.63bn In January
Government borrowed a total of GH¢4.63 billion from both local and foreign investors to finance its activities for January 2016.
The loans were raised from Tenders 1467 held on 8th January, 2016 and issued on January 11, 2016; 1468 held on 15th January, 2016 for Government of Ghana securities and issued on 18th January, 2016; 1469 held on 22nd January, 2016 and issued on 25th January, 2016 and 1470 held on 29th January, 2016 and issued on February 1, 2016.
Tender 1467 yielded GH¢1,761.47 million (or GH¢1.76 billion) while Tender 1468 yielded GH¢1,021.31 million (or GH¢1.02 billion) and Tender 1469 raised GH¢963.82 million. Tender 1470 produced GH¢887.79 million.
For January this year, GH¢2,100 million was scheduled to be collected via the 91-day T-bill, with GH¢1,700 million planned to be received from the 182-day T-bill.
Also, some GH¢120 million was billed to be contracted via the 1-Year Note, GH¢300 from the 2-Year Note, and GH¢500 million from the 3-Year bond while a yet-to-be specified amount was to be borrowed from the 5-Year Fixed Rate Bond.
According to its borrowing calendar for the first half of this year – the Medium Term Debt Strategy (MDTS) – forecast maturities would make up GH¢27,779.00 million of the amount to be borrowed while net issuance would total GH¢2,951.00 million.
In 2015, government borrowed about GH¢50 billion through its Issuance Calendar for its securities.
A large chunk of the money borrowed was used to pay back loans it contracted from resident and non-resident investors which had matured.
This year, government expects to borrow an amount of GH¢30.47 billion for the first half from the issuance of bonds, notes and Treasury bills.
By Samuel Boadi