May 27, 2014 / 1:36 PM / in 4 years

Ghana cancels 100 mln-cedi ($33.4 mln) 7-year domestic bond

ACCRA, May 27 (Reuters) - Ghana has cancelled plans to issue a seven-year domestic bond worth 100 million cedis ($33.4 million) this month to a avoid spike in already high bond yields, government officials and analysts said on Tuesday.

The central bank in January announced plans to issue a series of short- and medium-term papers including a third seven-year bond slated for this month as part of government debt restructuring.

Central bank treasury head Yaw Abalo told Reuters the planned auction, open to offshore investors, was called off by the Finance Ministry. (Reporting by Kwasi Kpodo)

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