Ghana plans to sell debt, to support development?
Ghana who has experienced its slowest economic growth in 37 years, in 2020, is set to borrow up to $5 billion on international markets this year.
Ghana plans to issue up to $2 billion in green and social bonds by November, and this would make it the first African country to sell debt to support development.
‘The proceeds will help refinance domestic debt used for social and environmental projects, including loans taken to pay for governments free senior secondary school policy, Minister of state at the Ministry of Finance Charles Adu Boahen told Bloomberg.com on Monday…’
Ghana is targeting a budget gap of 9.5% of gross domestic products this year, from an 11.7% shortfall in 2020, and expects its output to expand 5% from the 0.4% of last year.
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