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Economy

Ghana to issue first 10-yr local currency bond next month

Date: Sep 6, 2016

Ghana plans to issue its first10-year local currency bond next month worth 200 million cedis($50.42 million) as part of efforts to borrow over longer terms and ease interest rates, Finance Minister Seth Terkper said on Tuesday.

The West African cocoa, gold and oil producer signed a three-year assistance programme with the International Monetary Fund in April 2015 to restore fiscal balance to an economy dogged by deficits, public debt and high interest rates with inflation constantly above target.

--reuters--