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Sunday 24 January 2021
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Government intends to raise $5.0 billion to support growth-oriented expenditures

Ken Ofori-Atta, Finance Minister

Ken Ofori-Atta, Finance Minister

Government has indicated it intends to raise an amount up to $5.0 billion to support growth-oriented expenditures in the 2021 Budget for this year.

The Ministry of Finance, which made this known in a request for expressions of interest (EoI) for some appointments for the 2021 Medium Term ICM Programme, said it also wants to conduct liability management including refinancing domestic debt and a buyback of some selected outstanding Eurobonds.

It is for this reason that it said it was considering to launch a 2021 International Capital Market (ICM) funding programme for the medium term.

Ken Ofori-Atta, Finance Minister

Ken Ofori-Atta, Finance Minister

According to the Ministry of Finance, it was requesting EOI from qualified and reputable co-managers to partner the international transaction advisors for the various instruments under the programme.

MoFEP continued that in accordance with the requirements and responsibilities of primary dealers and bond market specialists, the co-managers would be sourced from those who qualify as bond market specialists and/or investment advisors.

The ministry said the instruments for the programme consisted of some broad group of instruments. These included Eurobonds, Diaspora Bonds; Sustainable Bonds (Green Bonds and Social Bonds); and Syndicated Term Loans.

 

 

Source: Goldstreet Business

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