Ghana’s new bonds (domestic bonds) traded at yields between 9.27% and 10.02% in April 2023, data from the Bank of Ghana has revealed.
This follows the successful restructuring of the country’s debt in February 2023 dubbed the “Domestic Debt Exchange Programme”.
Prior to the completion of the DDEP, the old bonds traded between the rates of 16.32% and 20.74% in February 2023.
According to the data, the new bonds have been categorised into 4-year, 5-year, 6-year, 7-year all the way to the 15-year bonds.
Whilst the yield on the 4-year bond went for 9.27%, that of the 5-year, 6-year and 7-year bonds traded at rates of 9.34%, 9.41 and 9.49% respectively.
The 11-year, 12-year, 13-year, 14-year and 15-year bonds also traded at 9.79%, 9.87%, 9.87%, 10.02% and 9.46% respectively.
By comparing the current yields to the previous yields, the interest rates declined by a minimum of about 8%.
Last week, trading activity on the bond market bounced back, as total value traded shot up by 34% to ¢388.91 million.
According to the market data, activity in the new bonds also regained momentum on the back of ¢265.88 million volume traded across the 2027-2037 segments.