The finance Minister Mr  Seth Terkpeh has marred the relationship between his ministry and Bloomberg Market by failing to respond to the media outlet's call and subsequently refusing to respond to text messages when the latter sought comments from him concerning the new Eurobond sales. Blomberg Market, in a bid to find answers to the current impasse between the country and the International Monitory Fund(IMF), called the minster by phone and followed up with  texts but were surprised to see their efforts ignored.

"Terkper didn’t answer a call or respond to text messages when Bloomberg sought comment" the New York-based media house reported.

"Finance  Minister Seth Terkper said after the country had scrapped a planned sale, balking at the price demanded by investors"

On Thursday, August 7, Bloomberg reported that investors have ditched Ghana's fifth Eurobond over fears government may not be able to prudently manage the economy ahead of a crucial election on December 7, a report which the financial Minister quickly disputed.

According Bloomberg Market's  report, a statement by  Richard Segal, an emerging-market analyst at Manulife, which oversees about $130 billion of fixed-income investments, said by phone from London that Without an agreement with the IMF, it would be quite difficult for the country  to go to the Eurobond market, particularly because investors would know about the sticking point.

He further indicated that  it could be quite easy for Ghana to issue the bond  If  it is able to resolve with the IMF.

Ghana, second-biggest economy in West Africa is keen to tap the Eurobond market for the fourth time in as many years.

The country’s Eurobond have returned 4.1 percent since the beginning of August, compared with the average of 2.9 percent for dollar debt of 17 sub-Saharan African nations.

The Finance Minister, Seth Terkper late last month expressed  hope that  country will attract the best interest rate for the country’s 2016 Eurobond.

By: Fiifi Abdul-Malik/ghanaguardian.com