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

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

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

The bonds, which have been heavily oversubscribed, were also part of efforts by the central bank to mop up liquidity in support of the local cedi currency , under pressure from local dollar demand.

(Reporting by Kwasi Kpodo; Writing by Richard Valdmanis)

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

Keywords: GHANA BOND/