Budget Pain Abating for Ghana Prompts Longest Cedi Bond Sale
ACCRA (Capital Markets in Africa) – Ghana is selling its longest local-currency bonds as the stabilizing cedi and government steps to rein in a budget shortfall stoke appetite for the West African nation’s debt. The Finance Ministry gave final guidance of 19.75 percent for the 15-yearcallable bonds and is due to stop accepting bids at 3 p.m. in Accra. Yields on the government’s local debt have fallen in the past month, helping the ministry place 1.4 billion…
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