The Government of Ghana has announced plans to raise GH₵ 15.23 billion from the domestic market between March and June 2026 to support budget implementation and manage maturing debt obligations.
This was disclosed in an issuance calendar published by the Bank of Ghana, outlining a combination of short-term treasury instruments and medium- to long-term bonds scheduled for the period.
According to the notice, the planned gross issuance will be used to refinance existing debt while also financing the 2026 budget, in line with the Net Domestic Financing targets set out in the Budget Statement and Economic Policy.
Government will continue its weekly issuance of 91-day, 182-day, and 364-day treasury bills through the primary auction market. However, authorities are also shifting focus toward medium- to long-term bonds as part of efforts to reduce reliance on short-term borrowing.
The central bank indicated that bond issuances will begin after the expiration of restrictions linked to the Domestic Debt Exchange Programme (DDEP), with settlements expected within two working days.
In addition, the government plans to reopen existing instruments to improve liquidity in the secondary market and help develop benchmark yield curves.
The issuance calendar forms part of broader measures to deepen the domestic capital market, enhance transparency, and provide investors with clearer forward guidance.
Government has also reaffirmed its commitment to improving predictability in the domestic debt market, stating that the structured calendar will help market participants better align their investment strategies over the period.
