Wires

Ghana to issue 500 mln cedi 3-yr bond Oct. 25

ACCRA, Oct 8 (Reuters) - The Bank of Ghana will issue 500million cedis ($264.6 million) worth of three-year governmentbonds on October 25 to restructure short-term debts, FinanceMinister Kwabena Duffuor said on Monday.

The West African cocoa, gold and oil exporter has issued aseries of three-year and five-year bonds this year to raisefunds for infrastructure projects and for debt management.

The bonds, which have been heavily oversubscribed, were alsopart of efforts by the central bank to mop up liquidity insupport of the local cedi currency , under pressure fromlocal dollar demand.

(Reporting by Kwasi Kpodo; Writing by Richard Valdmanis)

((richard.valdmanis@thomsonreuters.com ; +221 33 864 5076;))

Keywords: GHANA BOND/

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