Govt seeks parliamentary approval for bond issuance

The government is seeking approval from Parliament for the issuance of bonds to refinance maturing external bonds and expensive domestic cedi-denominated debts.

It is requesting Parliament for the issuance of the 2018 sovereign bond and the global depository note to use $1.50 billion to refinance maturing external bonds, including the 2022 and 2023 Eurobonds.

It is also requesting for approval to use GH¢500 million to refinance expensive domestic cedi-denominated debts.

The government again wants the House to give it approval to use $1 billion to finance the 2018 budget.

The Minister of Monitoring and Evaluation, Dr Anthony Akoto Osei, stood in for the Minister of Finance, Mr Ken Ofori-Atta, to lay the government's request in Parliament yesterday

Consequently, the Speaker of Parliament, Professor Aaron Mike Oquaye, referred the request to the Finance Committee of Parliament for consideration and report.

Finance Committee

In an interview with the Daily Graphic, the Chairman of the Finance Committee, Dr Mark Assibey-Yeboah, said some of the bonds were expensive and, therefore, the government wanted to borrow the money this year to refinance the bonds.

Again, he said, the government wanted to borrow to finance the 2018 budget, adding that the committee would study the request and present its report to Parliament for consideration.