Parliament has given the go-ahead to government to commence processes to issue a $1billion Eurobond from second quarter of this year.
According to the Chairman of Parliament’s finance committee James Avedzi, they [committee] will demand from the finance minister how the bond would be disbursed, so that it can furnish parliament with the report.
The finance ministry will also be required to publish the list of items financed by the Eurobonds in order to clear any doubts.
The government is likely to settle on Barclays, Stanchart and Deutsche Bank as transaction advisors.
Deputy finance minister, Mona Quartey stated government was not issuing the bond for issuing sake as the season and timing all come together to ensure its success.
“We shouldn’t do it for just issuing sake, it must be in season, it must be the right timing to get the right price and to ensure the success of the issue.”
Business World (with notes from myjoyonline)