Market activity on the bond market improved by 319.2% week-on-week to GH¢2.11 billion as Domestic Debt Exchange programme gathers momentum.
This is coming on the back of 50.30% increase in market turnover in the previous week to ¢1.17 billion as more bond transfers were recorded.
According to the trading results, the uptrend in market activity was mainly driven by volumes on the 2023, 2026 and 2039 bonds, which accounted for 50.18% of aggregate turnover.
Rating agency, S&P, downgraded Ghana’s January 26, 2023 bond into selective default (D) as the government failed to honour the coupon due on the bond.
The failure to pay the coupon was due to the suspension of external debt service, including Eurobonds.
Analysts expect quiet sessions this week on the market as investors await the new terms of the Domestic Debt Exchange programme.
Source: Ghana News