• About
  • Advertise
  • Privacy Policy
  • Contact
Wednesday, July 9, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Gov’t Closes Door to ICM as SDR Allocation Boosts Fiscal Position

October 16, 2021
Stephen M.Cby Stephen M.C
in Economy, Sub Top Stories1
0
Gov’t Closes Door to ICM as SDR Allocation Boosts Fiscal Position

Hon. Ken Ofori-Atta - Minister of Finance

The Ministry of Finance has stated that the Government of Ghana does not intend to assess the International Capital Market (ICM) again this year to raise any extra funds to finance its expenditures.

According to the Ministry of Finance, the decision not to seek extra funds from the ICM anchored heavily on the recent SDR allocation to the country and the strong international reserve position.

“…Given the current market conditions, strong reserves position, the recent US$ 1.007 billion SDR allocation and the relatively stable currency, the Government of Ghana does not intend to access the international capital markets again this year”.

Ministry of Finance

The Ministry of Finance provided details on its external borrowings as has been approved by the Parliament of Ghana for the 2020/21 fiscal year. According to the MoF, Ghana initiated its 2021 International Capital Market Program for the issuance of sovereign bonds in the last quarter of 2020.

RelatedPosts

Ghana’s IMF Programme Goes Off Track

Ghana’s Reserves Soar: Mahama Eyes 10-Month Import Cover to Boost Cedi Stability

Bank of Ghana’s Tight Monetary Stance Gets IMF Nod in Battle Against Inflation

Subsequently, Parliament on 10th November 2020, granted Government approval to issue bonds amounting to US$3.00 billion, of which proceeds of up to US$1.5 billion was to be applied to support the 2021 budget and growth expenditures. MoF revealed that the balance was to be used for reprofiling domestic debt and liability management purposes.

Parliament also approved a further issuance of up to US$ 2.0 billion, for liability management purposes and reprofiling of domestic debt, should market conditions prove favorable, MoF said.

In March 2021, Ghana successfully issued bonds worth US$3.025 billion comprising the first 4-tranche Eurobond which included an innovative zero-coupon bond, under the 2021 ICM Programme. According to MoF, the 4-tranche transaction was executed after a three-day virtual roadshow with a series of fixed income meetings with investors mainly domiciled in North America and Europe.

Sustainable Financing Framework

To streamline its capital market participation, the Ministry of Finance has developed a Sustainable Financing Framework to guide future capital markets issuance. MoF highlighted that it has developed the framework based on feedback received from various investor engagements, including the roadshow meetings in March this year.

“The Ministry is pleased to report that the Framework, including the Second Party Opinion (SPO), has now been published on the Ministry’s website.  It should be noted that publishing the Framework does not imply any new issuance under the ICM Programme. The intention of publishing the Framework is simply to allow our investors and stake holders to review its contents and be guided by it”. 

Ministry of Finance

The Framework provides the Government of Ghana, through the Ministry of Finance, the criteria to screen programmes and projects with sustainable, green and/or social credentials that may require financing from the National Budget.

The Ministry of Finance detailed that the Framework recommended that any Environmental, Social, and Governance bonds (ESG) related issuances should fall under two (2) broad categories of Sustainable Financing Instruments.  The first is those that will finance or re-finance eligible green and social projects and expenditures (Green, Social and Sustainability bonds). The second category comprises those that are linked “to our performance versus our targets on certain defined KPIs (Sustainability Linked Bonds)”.

READ ALSO: Visa considerations cannot be weaponised- Okudzeto Ablakwa

Tags: ghanaICMMinistry of FinanceSDR allocationSustainable Financing Framework
Please login to join discussion
Previous Post

Visa considerations cannot be weaponised- Okudzeto Ablakwa

Next Post

Pyxera Global Collaborates with Master Card Foundation, register MSME

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.

Related Posts

Mustapha Gbande, Party, President.
General News

Every NDC Member Is Better Off Today – Gbande

July 9, 2025
Deadly Rush Confirms Fears About Gaza Humanitarian Foundation
Asia

Mass Casualty Incidents Besmirch Gaza’s Aid Struggle

July 9, 2025
GoldBod CEO Champions Value Addition in Mining
Extractives/Energy

Ghana Poised to Reap Big from Soaring Gold Prices

July 9, 2025
Hon. Haruna Iddrisu, Ghana's Minister for Education
General News

Ghana Moves to Overhaul Scholarship Regime with New Bill

July 9, 2025
LGBTQ concerns in Ghana
General News

Ghana Slammed for UN LGBTQ Vote Abstention

July 9, 2025
Databank Forecasts Prolonged Slump in T-Bill Demand Over Low Yield Concerns
Securities/Markets

Databank Forecasts Prolonged Slump in T-Bill Demand Over Low Yield Concerns

July 9, 2025
Mustapha Gbande, Party, President.
General News

Every NDC Member Is Better Off Today – Gbande

by Silas Kafui AssemJuly 9, 2025
Deadly Rush Confirms Fears About Gaza Humanitarian Foundation
Asia

Mass Casualty Incidents Besmirch Gaza’s Aid Struggle

by Comfort AmpomaaJuly 9, 2025
GoldBod CEO Champions Value Addition in Mining
Extractives/Energy

Ghana Poised to Reap Big from Soaring Gold Prices

by Prince AgyapongJuly 9, 2025
Hon. Haruna Iddrisu, Ghana's Minister for Education
General News

Ghana Moves to Overhaul Scholarship Regime with New Bill

by Evans Junior OwuJuly 9, 2025
LGBTQ concerns in Ghana
General News

Ghana Slammed for UN LGBTQ Vote Abstention

by Lilian AhedorJuly 9, 2025
Databank Forecasts Prolonged Slump in T-Bill Demand Over Low Yield Concerns
Securities/Markets

Databank Forecasts Prolonged Slump in T-Bill Demand Over Low Yield Concerns

by Stephen M.CJuly 9, 2025
Mustapha Gbande, Party, President.
Deadly Rush Confirms Fears About Gaza Humanitarian Foundation
GoldBod CEO Champions Value Addition in Mining
Hon. Haruna Iddrisu, Ghana's Minister for Education
LGBTQ concerns in Ghana
Databank Forecasts Prolonged Slump in T-Bill Demand Over Low Yield Concerns
[/vc_row_inner]

Recent News

  • Every NDC Member Is Better Off Today – Gbande
  • Mass Casualty Incidents Besmirch Gaza’s Aid Struggle
  • Ghana Poised to Reap Big from Soaring Gold Prices
  • Ghana Moves to Overhaul Scholarship Regime with New Bill
  • Ghana Slammed for UN LGBTQ Vote Abstention
The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.