$3bn Eurobond cash to hit BoG's account by next week By Justice Kofi Bimpeh
06 Feb 2020

The Finance Minister Ken Ofori Atta has disclosed that all other things being equal the $3 billion Eurobond money would hit Bank of Ghana’s account next week.

This according to him would significantly increase the country’s international reserves.
He added that “Government is committed to supporting the Bank of Ghana to firmly stabilize the cedi throughout the year and even beyond”.

Mr Ofori-Atta noted that another $300 million would hit their accounts coming from the planned mining IPO in March.

Speaking to Joy FM in London, Finance Minister Ken Ofori Atta attributed the over subscription of Ghana’s Eurobond to high investor confidence in the economy.

Mr Ofori-Atta said the results also show that investors are also satisfied with the government’s fiscal commitment, especially in an election year.

Mr Ofori-Atta said, “This is also a sign of market confidence in the long term prospect of the economy.”

He also added the results of the offer have also demonstrated the government’s ability to manage the economy even after the completion of the IMF program completion.
“Don’t forget going into this offer, there were concerned about timing, an election year, and you would have expected some hesitancy, but all these did not affect interest in the Eurobond”.
Mr Ofori-Atta added that “our responsibility now is to continue to be on course and manage the macro’s, the fiscals and look at ways to increase revenue to help sustain this investor confidence.” However, the minister added that he strongly believes that they are on course.


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