• Home
  • Business
  • BoG aids government to refinance ¢2.83bn 5-year bond

BoG aids government to refinance ¢2.83bn 5-year bond

The Bank of Ghana (BoG) supported the government to refinance ¢2.83 billion 5-year bond expected to have matured yesterday November 28, 2022.

The unfavourable pricing conditions are also a major concern as the yields have been hovering around above 30%.

The government’s difficult fiscal position has compelled the Central Bank to provide financial support to the budget. In most cases, it is structured as an overdraft.

Meanwhile, 26% of the 5-year bond were foreign holders, whereas the rest of the holders were both institutional and retail investors.

According to Joy Business, since August 2022, the government has been repaying maturities on notes and bonds with support from the BoG. This is because there’s no market appetite for rollovers.

Government records oversubscription of T-bills sale for second week running

Despite the financial challenges facing government, the government for the second week running recorded an oversubscription of Treasury bills sale, with regards to data from the Bank of Ghana. It secured a total of ¢2.39 billion, 9.9% more than the targeted amount of ¢2.176 billion.

Related Posts

Ghana: GCX benefit 350,000 smallholder farmers

The Ghana Commodity Exchange (GCX) has ensured fair prices for more than 50,000 small-scale farmers who have participated…

Nigeria: SMEDAN, Sterling bank unveils N5 billion single interest loan for small businesses

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), in collaboration with Sterling Bank Ltd., introduced a…

Ghana: KIC opens call for Business Booster Program

Kosmos Innovation Center (KIC) in partnership with the Mastercard Foundation has announced the opening of call for applications…

Nigeria: Diageo to divest majority stake in Guinness Nigeria

British multinational alcoholic beverage company Diageo has agreed to sell its 58 percent majority shareholding in Guinness Nigeria…