Ghana wants to issue bigger $1.5bn Eurobond – minister

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Ghanaian newly elected president John Dramani Mahama  in a file photo.  REUTERS/Luc Gnago
Ghanaian newly elected president John Dramani Mahama in a file photo. REUTERS/Luc Gnago

ACCRA (Reuters) – Ghana wants to issue a Eurobond of up to $1.5 billion – higher than an originally planned $1 billion – by September for debt financing and budget support, deputy finance minister Cassiel Ato Forson said on Tuesday.

The minister did not go into the reasons for the increase, but it had been approved by the International Monetary Fund, a senior government official told Reuters, requesting not to be named.

Ghana’s finance minister Seth Terkper was presenting a reviewed 2015 budget including the larger Eurobond to parliament on Tuesday.

The government of the cocoa, gold and oil-producing West African nation had planned to issue the $1 billion Eurobond by the end of June, but has been pushed back to September.

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