Finance Minister Dr. Cassiel Ato Forson has unveiled the government’s intention to relaunch the domestic bond market as part of an updated debt management framework designed to lower borrowing expenses and enhance fiscal resilience beginning August 2025.
While delivering the 2025 Mid-Year Budget Review to Parliament on Thursday, July 24, Dr. Forson stated that the government’s revised debt strategy would now focus on deploying treasury bills solely for short-term liquidity management.
“Our debt management strategy is to use treasury bills for cash management only and reopen the domestic bond market to finance the budget deficit,” he informed the House.
He noted that the move to re-engage the domestic bond market aims to build a more dynamic and effective primary market one that can provide the required scale and pricing to assist the government in reducing its borrowing costs.
To support this initiative, Dr. Forson disclosed that from August 2025, the government will commence the appointment of new bookrunners financial institutions tasked with leading and distributing government securities.
“The focus will be on banks and investment dealers with the capacity to ensure wider market distribution and offer advisory services on pricing and structuring,” he added.
Dr. Forson emphasized that this step is part of the government’s broader pledge to rebuild investor trust, expand the domestic financial markets, and secure long-term debt sustainability.
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