Government has announced an Initial Pricing Guidance (IPG) range of 12% to 12.5% for its 7-year cedi-denominated bond. This signals that, depending on the outcome of the auction, the Finance Ministry could settle within this range as the interest payable to investors. The guidance was contained in the latest market update on the bond issuance. Some market analysts say the range reflects improving economic conditions. They note that the current 7-year bond on the secondary market trades around 13% to 14%, making the new guidance an improvement and a sign of stronger macroeconomic fundamentals. According to the update, the book-build process is now open and will close in the afternoon of Wednesday, April 1, 2026. Further updates on the book, including timing and any revisions to the pricing guidance based on demand, will be communicated to the market as necessary. Investors are also watching closely to see how much government aims to raise from the market. Background On March 30, t...