Ghana approves plan for $1 bln of Eurobonds in 2016
Parliament on Wednesday approved a $1 billion sovereign bond from the European market to finance the 2016 budget and to offset some of the country's loans.
Parliament on Wednesday approved a $1 billion sovereign bond from the European market to finance the 2016 budget and to offset some of the country's loans.
On Oct. 23, 2015, Standard & Poor's Ratings Services affirmed its 'B-/B' long-and short-term foreign and local currency sovereign credit ratings on Ghana. The outlook is stable.
Ghana will seek to issue a fresh Eurobond of up to $500 million by year end if market conditions are right, Finance Minister Seth Terkper told a news conference on Friday.
The International Monetary Fund (IMF) has described as unfortunate the 10.75 percent yields government accepted on the $1 billion Eurobond issued recently.