Gov’t To Raise GH¢11bn In First Quarter Of 2018

Government is seeking to raise GHȼ11,133.91 million in the first quarter of 2018 through debt securities.

Of the amount GH¢8,961.30 million will be used to rollover maturities.

The remaining GH¢2,164.61 million will be used to meet Government’s financing requirements for the period.

A statement issued by the Debt Management Office of the Ministry of Finance stated that about 5 billion cedis in 91 day treasury bills will be issued in January, February and March while a total of 1.8 billion cedis in 182 day treasury bills will also be issued through the period as well.

Meanwhile 1 year and 2 year notes  amounting to about 2.5 billion cedis will also be auctioned.

A three year 600 million cedi and 5 year 1 billion cedi bond will be auctioned in March and February respectively.

This year’s figure is much lower than the figure raised by Government in the same period last year.

In the first quarter of 2017 Government announced it will raise 17,400.00 million cedis through bonds and treasury bills and other government securities.

The cash was to be used to rollover forecast maturities, meet Government’s financing requirements and build buffers for liability management.

Economists assert the reduction in this year’s figure reinforces Government’s move to reduce the country’s debt stock.

Source: Citibusinessnews