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The parliament of Republic has eventually approved Ghana's next $1 billion sovereign Eurobond.
This means that Finance Minister Seth Terkper is now at liberty to issue the fourth Eurobond in three years coming just four months after the country's last $1 billion Eurobond which came at record- high interest rate of 10.75%
Though the minority in parliament raised concerns over what they described as poor economic management by government, the house approved a sovereign guarantee for the Eurobond through a voice vote.
The Minority MPs said they do not want to be a part of unwarranted government borrowing, characterized by excessive domestic loans.
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The Eurobond approval process which started on Tuesday but ended on a controversial note where the minority were up in arms over the Deputy Speaker, Barton Oduro's annulment of the vote count they had done which rejected the Eurobond with a 67 to the majority's 66.
The motion by the Finance Minister, Seth Terkper, seeking parliamentary approval to borrow from the international market lost by one vote.
Ebo Barton-Odro, First Deputy Speaker, announced that the number of Parliamentarians present in the House, i.e. 133, does not meet the requirement to take a decision on a matter.
The motion was subsequently tabled for debate on Wednesday.
Seth Terkper says the entire one billion dollar Eurobond would be used for refinancing Ghana's short-term debts.