From Ghana Business News
The recent $1 billion Eurobond issued by the Ghana government has increased the country’s external debt portfolio, officials have said.
Ghana’s external debt in the first seven months of 2013 currently stands at $10.2 billion.
The external debt as at the end of December 2012 was $8.8 billion, the Bank of Ghana said September 18, 2013 in a monetary policy committee (MPC) press statement.
“The increase in the external debt was mainly due to the sovereign bond issue,” Dr Kofi Wampah, Governor of the Central Bank said.
Ghana issued its second Eurobond worth $1 billion in July 2013 and received $750 million as proceeds. The bond had a coupon rate of 7.875 percent.
Meanwhile, the country is planning to launch another bond totaling about $1 billion or more on the international market next year, Reuters reported September 19, 2013 citing a Ghanaian official. Read more at Ghana Business News.