Government has put on hold plans to issue its fifth Eurobond which was scheduled to take place next week.

Ghana plans to sell Eurobonds of up to $1 billion by next week to fund the 2016 budget and refinance debt repayments due next year, government sources said yesterday.

The Bank of Ghana has maintained the policy rate at 26 percent again.

Ghana's B3 rating and negative outlook reflect the sovereign's large gross financing needs, high debt burden and low debt affordability, Moody's Investors Service said in an annual report published this past week.