The Bank of Ghana Issuance of their 2022 Calendar for the year have revealed that the government of Ghana have planned to borrow an amount of Ghs3.78 billion in the first quarter of the year 2022 and champion their yearly budgets and projects in the country.
However, this information was revealed by the Myjoy business report.
According to the report, the government of Ghana are planning to issue a gross of Ghs24.5 billion in the first three months of the year 2022 about which Ghs 20.7 billion is to rollover maturities indicating that the debt of the government will not be deduced any time soon in the country.
A move that has helped reduce foreign debt but rather crowded out the private sector from access to financing on the domestic market instead of a situation where the government revenue will come from the 91 st day Treasure bills.
According to data from the Bank Of Ghana Calendar, “the government will borrow as much as Ghs11.billion of 91-day treasurer bill during the period, higher than the previous quarter”.
However, according to the data, the biggest which is Ghs1.5 billion will therefore issue in march 2022, where Ghs2. 15 billion will be mobilised from the 354 days bills. It is also noted that the Majority of the fund will be raised this month January.
Additionally, from the 6 year bond in this month January, an amount of Ghs 2 billion is expected to be raised while the 7-year bond and 10-year bond are expected to be issued in February March this year respectively.
On that note, an amount of Ghs1. 80 billion and Ghs800 million funds will be borrowed from both residents and non-resident investors in the country.
The Calendar is, therefore, develop based on the Net Domestic Financing provided in the 2022 budget, the 2022 domestic maturities for the period, the 2022 borrowing Plan and the Medium Term Debt Strategy according to the government of Ghana.