In the second quarter of 2022, the government plans to borrow ¢4.5 billion in new loans

In the second quarter of this year, the government would borrow ¢4.59 billion in new funds to fund a portion of its budget.


However, this will be more than the ¢3.78 billion borrowed in the first three months of 2022.


The entire 4.59 billion is scheduled to be raised through the domestic market, according to the Issuance Calendar, however non-resident investors will be able to participate in some of the bonds that will be sold.



The government intends to issue a total of 24.69 billion in bonds, of which 20.10 billion will be used to rollover maturities.



The 91-day and 182-day Treasury bills will provide a significant portion of the funds to be borrowed.


The one-year bill will be issued bi-weekly, while the three- and six-month bills will be provided weekly. There will also be some medium- to long-term bond issuances.


According to the Bank of Ghana, the government anticipates that the second quarter schedule would suit market players’ needs.


The administration is promising all players and the general public that it would continue to work to improve the domestic bond market’s predictability and transparency.


Ghana’s public debt grew to 351 billion dollars in December of this year.


Ghana’s public debt stock increased to 351.8 billion in December 2021 from 344.5 billion in November 2021, accounting for 80.1 percent of GDP, according to the Bank of Ghana’s (BoG) March 2022 Summary of Economic and Financial Data.


This validated the predictions of Economists, Analysts, and Market Watchers that the country’s debt had gone out of control and would be around 80% of GDP in 2021.


In December 2021, the Central Bank reported that roughly 730 million new loans were added to the overall public debt portfolio. The increase could be due in part to the cedi’s devaluation in the final two months of 2021, which raised the foreign debt component.



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