Ghana is seeking $ 750 million negotiated as a syndicated loan from Standard Chartered Plc and Standard Bank Group Ltd, Ghana’s Ministry of Finance says.
The amount should be used to finance infrastructure projects and refinance existing debts.
A proposal should also be presented to the National Assembly by Finance Minister Ken Ofori-Atta, who said that the “proceeds will be used to finance or refinance development projects and for the management of accountability in Ghana. approved in the 2019 budget.
The country needs $ 2 billion in foreign currency to finance the budget. Also, Ghana is expected to commit an additional $ 1 billion if it is able to borrow or sell at lower rates than existing liabilities.
As a reminder, in February, the country named five banks, including StanChart and the Johannesburg-based Standard Bank, as lead arranger for a Eurobond sale.
