Investor Presentaiton
100%
80%
60%
40%
20%
34%
26%
0%
Jan-15.
(GHS billions)
Clear Strategy to Assure Debt Repayment (cont'd)
36%
27%
Gross External Debt/GDP
39%
28%
40%
27%
Currency volatility impacts on published debt metrics without considering mitigating factors
41%
27%
45%
27%
Gross Domestic Debt/GDP
36%
27%
Feb-15
Mar-15
Apr-15
May-15
Jun-15
Jul-15
Aug-15
Sep-15
Oct-15
Nov-15
Efforts underway to curtail interest expense by reducing and/or limiting high cost domestic borrowing
43%
28%
41%
28%
End Period Exchange Rates
41%
28%
■Domestic Debt Service
■ External Debt Service
30%
9.3
15-Year tenor, US$
1 Billion World Back
2016 Domestic Spot Yield Curve
2014 Domestic Spot Yield Curve
Post move to bookbuilding
1.6
7.1
Partially Guaranteed
25%
1.0
Back-End
4.4
Amortising
0.6
7.7
2.4
6.1
1.4
1.6
Eurobond Issued in
Q4 2015 to
20%
0.6
3.8
03
03
1.1
1.3
1.9
refinance high-cost,
short-term debt
15%
2010
2011
2012
2013
2015
O/N 91 Days 182 Days 1 Year 2 Years 3 Years 5 Years 7 Years
2014
Eurobond maturity profile being smoothened and extending further than Sub-Saharan African Peers (ex- South Africa)
Ghana's
Eurobond
Maturity
Profile as
at end
2013
531
1,000
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
Ghana's
Eurobond
Maturity
Profile as
at end
2015
531
2018
2019
2020
1000
333 333 334
333
333
333
29
41%
29%
5.0
4.0
41%
30%
3.0
2.0
1.0
0.0
Dec-15View entire presentation