{"id":313271,"date":"2017-04-23T14:09:10","date_gmt":"2017-04-23T14:09:10","guid":{"rendered":"http:\/\/citifmonline.com\/?p=313271"},"modified":"2017-04-23T14:09:10","modified_gmt":"2017-04-23T14:09:10","slug":"no-eurobond-to-be-issued-this-year-bawumia","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2017\/04\/no-eurobond-to-be-issued-this-year-bawumia\/","title":{"rendered":"No Eurobond to be issued this year – Bawumia"},"content":{"rendered":"

Vice President Dr. Mahamudu Bawumia has stated that the New Patriotic Party (NPP) government will not issue any Eurobond and add unto the country\u2019s debt burden.<\/p>\n

[contextly_sidebar id=”Ffqop0sTCaPrFLuterNFH6jV3sVfaKgP”]According to him, the government has resolved not to embark on any such move at least within this year.<\/p>\n

Speaking in an interview with the Head of Citi Business News desk, Vivian Kai Lokko on the sidelines of the ongoing spring meeting in Washington DC, Dr. Bawumia stressed that the government is rather committed to reducing the country\u2019s debt burden.<\/p>\n

\u201cWe\u2019ve made a strategic decision this year not to issue a Eurobond\u2026We do not want to issue a Eurobond we want to bring down the debt and manage them better.\u201d<\/p>\n

The Vice President and Head of government\u2019s economic management team\u2019s comment comes on the back of concerns by some industry watchers that a recent roadshow is an attempt to issue a Eurobond.<\/p>\n

But Dr. Bawumia insists the roadshow<\/a><\/strong><\/span> is to attract investments to Ghana.<\/p>\n

\u201cWhat we want is investments in the Ghanaian economy. The roadshow is to encourage more investments into Ghana,\u201d he stated.<\/p>\n

A team of Senior Government officials led by the Vice President, Dr. Mahamudu Bawumia, Senior Minister, Yaw Osafo Marfo, and Minister of Finance, Ken Ofori-Atta, have embarked on a Non-Deal Roadshow.<\/p>\n

The team visited London, Washington, New York, Boston, among others to interact with Ghana\u2019s bond holders, potential investors, US government officials and other key stakeholders.<\/p>\n

\u201cWe want our investors to know that Ghana is open to business and that we have the policies to make sure that their investments are safe,\u201d Dr. Bawumia added.<\/p>\n

Already the 2.25 billion dollars bond recently issued by the government has been met with a lot of criticism especially from the Minority in Parliament.<\/p>\n

But the government has mounted a strong defense insisting that the move is to help it re-profile the country\u2019s debt which has currently around 74% of GDP.<\/p>\n

The past NDC government in September last year issued the fifth Eurobond<\/a><\/strong> <\/span>of 750 million dollars at a yield of 9.25 percent a few points lower than the previous one which was at 10.75 percent.<\/p>\n

The bond has a maturity period of 5 years.<\/p>\n

At the time some Economists attributed the relatively shorter period of maturity to the low investor confidence in the economy.<\/p>\n

–<\/p>\n

By: Pius Amihere Eduku\/citibusinessnews.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"

Vice President Dr. Mahamudu Bawumia has stated that the New Patriotic Party (NPP) government will not issue any Eurobond and add unto the country\u2019s debt burden. [contextly_sidebar id=”Ffqop0sTCaPrFLuterNFH6jV3sVfaKgP”]According to him, the government has resolved not to embark on any such move at least within this year. Speaking in an interview with the Head of Citi […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[121,32,171,10,11],"tags":[],"yoast_head":"\nNo Eurobond to be issued this year - Bawumia - Citi 97.3 FM - Relevant Radio. 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