ADVERTISEMENT
RADP / Pulse Ghana  >  news  >  business

Ghana left with 200 USD to offset 2007 Eurobond – Terkper

Magdalene Teiko Larnyoh

The 750 million dollar Eurobond which matures next year was Ghana’s first ever Eurobond issued at par to yield of 8.5 percent.

___5767961___https:______static.pulse.com.gh___webservice___escenic___binary___5767961___2016___11___16___15___Seth-Terkper1_1
___5767961___https:______static.pulse.com.gh___webservice___escenic___binary___5767961___2016___11___16___15___Seth-Terkper1_1

At a press conference in Accra Terkper said the strategy adopted by the country in refinancing the bond has helped provide some financial space for government’s fiscal policies.

“We have US$200 million approximately on that bond but its fully funded we have put money aside into the Sinking Fund to be Buying Back anytime anybody wants to trade because that was one of the uses of the funds.”

READ ALSO: No signs of budget overruns yet -Kwesi Botchwey

ADVERTISEMENT

Terkper said the Sinking Fund that they set up has helped in refinancing the Eurobond. The Sinking Fund, that will allocate some funds to refinance the bond.

READ ALSO: Inflation falls to 15.8 percent in October

 “We showed that the combination of the Sinking Fund that we had about 100 million, we showed that the World Bank guaranteed funds were not exhausted and we were ready to add 150 million dollars to it and we showed that the bond itself that were going to be issuing, we could add.”

He added that this move has given government an opportunity to still have some cash in the fund to buy back anytime investors want to trade their shares in the bond.

Enhance Your Pulse News Experience!

Get rewards worth up to $20 when selected to participate in our exclusive focus group. Your input will help us to make informed decisions that align with your needs and preferences.

I've got feedback!
Magdalene Teiko Larnyoh Magdalene Teiko Larnyoh A feminist at heart and a lover of art. She loves to write on business, politics and health.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.com.gh

ADVERTISEMENT