In business this week, Ghana's inflation rate for June increased marginally to 42.5%. This was announced by the Government Statistician, Professor Kobina Annim, at a press briefing on July 12, 2023. Also, the Bank of Ghana (BoG) is expected to sell $120 million to Bulk Oil Distribution Companies (BDCs) in the third quarter of 2023. According to the Forex Forward Auction Calendar for the third quarter of 2023, the Bank of Ghana will auction $40 million to BDCs in July and August.
On the Debt Exchange Programme, the Ministry of Finance said it has settled all outstanding coupons and principal payments owed individual bondholders.
Following the completion of the first phase of the Debt Exchange Programme, the Coalition of Individual Bondholders Groups planned to picket the Ministry of Finance's offices to demand payment of their overdue coupons and principals. The Finance Ministry stated in a statement made on July 10, 2023 that it has also given out orders for payment of coupons due till July 10, 2023.
