Bank of Ghana to issue another three-year bond

http:// The Bank of Ghana is to issue another three year bond this Thursday.  

Government through the Central Bank is hoping to raise GH¢300 million.  

According to a statement on the website of the Bank of Ghana, the bond will have a yield of 10 percent for investors and will be open to both locals and foreigners.  

This will be the third time this year that government is issuing a cedi denominated bond.  

Government in April issued a GH¢320 million three-year bond to pay off government debts that are maturing.  

However many analysts have criticized the practice where government borrows to pay its old debts.  

Meanwhile Joy Business has gathered government will again issue a five-year bond later this year to also settle another bond set to mature later on in the year.