The government of Ghana will go to the domestic capital market to raise 22.25 billion Ghana cedis (5.1 billion U.S. dollars) in the second quarter of 2017, the Ministry of Finance announced on Friday.

Coat of arms of GhanaAccording to the Issuance calendar posted on the Finance Ministry’s portal, the 91-day and 182-day treasury bills will be issued weekly while the one-year note will be issued bi-weekly through primary auction, with settlement occurring on first and third Mondays of each month.

“The 2-Year Note will be issued monthly through the primary auction, with settlement occurring on second Mondays of each month. The 3-and 5-year bonds will be done per the calendar through the book-building method and settlement on the last Mondays of each month,” the ministry added.

These resources are meant for the restructuring of maturing short-term debts as well as financing some activities of government.

According to its issuance calendar published in January, the government of Ghana planned to raise some 17.4 billion cedis or 4.0 billion dollars in domestic instruments in the first quarter of 2017 in bonds and notes for restructuring public debts and financing government expenditure. Enditem

Source: Xinhua/NewsGhana.com.gh