From Independent Online

Ghana should have little trouble selling a debut 7-year domestic bond this week, but foreign investors may be wary given its large fiscal deficit, weakening currency and low dollar liquidity.

With Treasury bills and shorter-dated bonds trading at yields of at least 20 percent and inflation at a 3-year high, the West African cocoa, gold and oil producer also faces the prospect of locking in high borrowing costs for a long time.

While raising money in the international bond market would cost less – Ghana issued its second 10-year Eurobond in July at a yield of 8 percent – analysts say the new issue will enable it to deepen its local bond market and set a benchmark for corporates to issue debt.

Read more at iol.co.za