Reliable information gathered from the Ministry of Finance has indicated that the Ministry has withdrawn the $1 billion dollar Eurobond facility agreement from Parliament due to errors.

Seth Tekper
Seth Tekper

According to the information, the Ministry has detected what it described as some ?mistakes? in the Memorandum that accompanied the agreement, hence the probability that the Ministry would be?laying a new agreement on the Eurobond before close of today.

It could be recall that the government of Ghana had announced plans to issue the Eurobond to settle government?s debt that was scheduled to mature in the next two years, 2017.

However, government issued another Eurobond which was to be used to finance government expenditure and infrastructure.

Meanwhile, the Eurobond expected to boost Cedi which has seen some significant level of?depreciation against major foreign currencies, by?little over 12% on the interbank market between January and March this year.

More information soon.

 

Source: spyGhna.com

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