Government’s Revised Issuance Calendar for August To December 2016
We make reference to our publication, informing you of Government’s aggregate borrowing amount for the third quarter of 2016 of GHȼ16,830.00 million out of which forecast maturities was GHȼ14,910.61 million and net issuance of GHȼ1,919.39 million.
As you may be aware, the Government revised its fiscal projections for 2016 in the mid-year review. Accordingly, this necessitated the revision of the issuance calendar to ensure consistency with Government cash flow forecast and market conditions.
Based on the above, a new issuance calendar for August to December 2016 was developed in line with the MTDS that specifies the aggregate amounts to be raised by instruments in the period. The Table 1 below provides a summary of the revised gross borrowing requirement for the period August to December, 2016...