Bonds Rally as Ghana Pledges to Meet Its Budget Deficit Targets
- Yield on African nation’s most-traded bonds decline sixth day
- Ghana is pursuing raft of measures to narrow budget deficit
Nana Akufo-Addo
Photographer: Julien de Rosa/AFP/Getty ImagesThis article is for subscribers only.
Ghana’s belt-tightening measures to reach its budget-deficit target are fueling the longest bond rally in two months.
The yield on the nation’s $1 billion bonds maturing in 2026 declined for the sixth consecutive day as President Nana Akufo-Addo reiterated the government’s commitment to get the economy back on track.