Government has successfully issued its 5 year cedi denominated Treasury bond.<\/p>\n
Government was looking to raise about 516.5 million cedis but received a subscription of about 644 million cedis.<\/p>\n
[contextly_sidebar id=”qhX8rwrHwLaLcUOylfNrBKmAoR4qaH3D”]It however accepted 35 out of a total of 47 bids received which culminated to over 516 million cedis.<\/p>\n
The subscription was 127.5 million cedis more than the expected.<\/p>\n
This represented a subscription ratio of 1.25 times higher than the expected number of bids.<\/p>\n
The bond which matures on November 23, 2020 was issued at a rate of 24 percent.<\/p>\n
Meanwhile some analysts who have been speaking to Citi Business News<\/strong> say fiscal discipline by the government will largely help it meet its target of reducing the country\u2019s debts as it borrows from the domestic market.<\/p>\n \u201cI like what the government is doing towards that (long term domestic market) but the fiscal discipline needs to be improved.\u201d Chief Executive of Databank Group, Kojo Addae-Mensah said.<\/p>\n Kojo Addae-Mensah however commended government for shifting attention to long term bonds on the domestic market.<\/p>\n \u201cAt least they are looking at long term borrowing now that is a positive sign. They are not crowding out the short term market anymore so the idea is to refinance the short term market and refinance it with the long term. I like the signal, the positive of it, and the fact that it is five years. It is good I wish they will do more of the long term bonds than go out for Euro bonds and the like.\u201d He stated.<\/p>\n It is still unclear how government intends to spend the amount it has so far\u00a0realized.<\/p>\n –<\/p>\n By: Pius Amihere Eduku\/citifmonline,com\/Ghana<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Government has successfully issued its 5 year cedi denominated Treasury bond. Government was looking to raise about 516.5 million cedis but received a subscription of about 644 million cedis. [contextly_sidebar id=”qhX8rwrHwLaLcUOylfNrBKmAoR4qaH3D”]It however accepted 35 out of a total of 47 bids received which culminated to over 516 million cedis. The subscription was 127.5 million cedis […]<\/p>\n","protected":false},"author":14,"featured_media":37044,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[19],"tags":[21,4],"yoast_head":"\n