Ghana: Eurobond issue on the cards

GHANA would aim to issue a Eurobond of as much as $1 billion (R12bn) by the end of June, bringing forward the timing of the issuance which had been scheduled for the second half of the year, the head of the parliamentary finance committee, said yesterday. In an apparent about-face, the government had also decided not to pursue a bridge finance loan that would have been worth up to $1bn, James Avedzi, the parliamentary finance committee head, said. The government said in a memo to parliament last month that it had started talks over the loan with a consortium, including Bank of America Merrill Lynch and Belstar Capital, and hoped to complete it before July. There was no immediate comment from the finance ministry. – Reuters