The issuance calendar for the 1st half of 2016 was developed in line with the MTDS that specifies the aggregate amounts to be raised by instrument in the period.
As part of the government's debt management reforms to develop the domestic market and the financing of the government budget, the issuance calendar has been modified to specify the aggregate amounts to be raised in the first half of the year without specifying the months for the intended borrowing.
The monthly calendars that would announce the instruments (T-bills, notes and bonds) and the volume would be announced well in advance of each month.
Based on the revision, the aggregate borrowing amount for the 1st half 2016 is GH¢30,730.00 million out of which forecast maturities is GH¢27,779.00 million and net issuance is GH¢2,951.00 million.
The January calendar is as follow:
MONTH |
JANUARY
|
91-Day T/Bill | 2,100 |
182-Day T/Bill | 1,700 |
1-Year Note | 120 |
2-Year Note | 300 |
3-Year Fixed Rate Bond | 500 |
5-Year Fixed Rate Bond | - |
We believe that the combination of an overall plan for the half year and a more accurate detailed monthly borrowing plan, presented well in advance, should meet the requirements of market participants as it will ensure greater predictability and transparency.
Source:Ministry of Finance