For the Ghanaian government, the plan is to expend US$400Million in refinancing its domestic debt within that period thereby avoiding the payment of $US200 million that otherwise would have been payable within the period. Ghana’s success in the issuance of its Eurobond is significant because at least according to one view it reassures other African countries like Angola, Kenya and Nigeria, who have been watching to see how Ghana fares in the Eurobond market. It also raises hope for African countries to access credit despite downgrades in credit ratings, which seem to have affected Chinese credit market in Africa over time.
Meanwhile in Nigeria, as the country’s debt stock continues to escalate, reactions have been propelled from different quarters. Recently, the President of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) issued a statement advising the Federal government to connect its debts to specific infrastructural development projects which are likely to generate revenues that can in turn finance the debts. In calling for more transparency, the President of ICSAN also noted that the federal government ought to be specific in stating the purpose for its borrowing, rather than vaguely noting that it is required by the country’s expenditure needs.
List of television stations in Africa - Wikipedia
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