Ghana is examining the possibilities of arranging for a total of US$300 - 500 million Ghanaian debt issuance on Asian capital markets,the Finance minister Ken Ofori Atta has revealed.

The minister, speaking at a breakfast meeting held in Accra on Friday, December 15th, 2017, outlined a number of plans being adopted by the Nana Addo led administration to attract Asian investors.

"we are today examining the possibilities of arranging for a total of US$300 - 500 million Ghanaian debt issuance on Asian capital markets," Ken Ofori Atta said.

Asia has fast become the world's manufacturing hub, with country's like China, Japan and Singapore leading the pack.

According to data from the International Trade Centre, from 2006 until 2016, trade between the two largest continents in the world increased from US$167bn to $292.9bn, a 75.4% increase.

And to Mr Ken Ofori Atta it is about time Ghana makes  the push that will ensure an upsurge in investment in the country, which will include "bilateral currency swap".

He announced measures to increase investment and competition in its financial markets and banking sectors.

He said the  second ambition he said, is to structure partnerships between state owned enterprises and the private sector in Ghana with counterparts in the Asia to invest in targeted industries and sectors - oil and gas, agriculture, mining and infrastructure including energy, railways, ports, financial services, technology and innovation.

"The aim to improve financial market connectivity through correspondent banking relationships and capital markets." he said.

"We should expect soon, moves towards a bilateral currency swap between the GHc and the Japanese Yen and a potential $2 billion bond in the next 3 years."

According to the minister a move is well underway to seek  investment creation from China, Japana and Singapore to help boost Ghana's  underperforming stock market.

By Fiif Abdul malik/ghanaguardian.com