Finance and Tax Analyst, Nelson Cudjoe Kuagbedzi has described the expiration of restrictions on new domestic bond issuance as a major boost for investor confidence and a positive signal for Ghana’s financial markets.

Speaking to Citi Business News, Nelson Kuagbedzi said government’s planned return to the domestic bond market is “good news for the economy and the market in general,” stressing that the move is likely to attract a broad base of investors back into longer-term securities.

“I think this is good news to the extent that government intends to come back to the domestic bond market. This is good news for the economy and the market in general,” he stated.

His comments follow an announcement by the Ministry of Finance on Monday, March 2, 2026, declaring the expiration of the three-year restriction on new domestic bond issuance. The measure had been introduced in 2023 at the height of the country’s debt crisis. According to the Ministry, the restriction was imposed to prevent the government from issuing new bonds after the debt default that preceded the Domestic Debt Exchange Programme (DDEP).

Mr. Kuagbedzi noted that in recent months, government securities in the money market have recorded persistent oversubscription, largely due to the limited range of investment instruments available within the financial market.

“For some time now, government has been recording oversubscription within the money market. This is simply because of the limited investment instruments within the financial market. Most institutional investors have been tilting their attention towards the treasury bill market solely for liquidity management purposes,” he explained.

He argued that the reopening of the bond market will help deepen and broaden the financial sector by offering investors more options beyond short-term treasury bills.

“Now that the restriction has expired and government intends to come back to the market, it is going to deepen the market, make it more liquid, and bring a lot of investors back into the domestic bond market. Generally, this is good news for the economy,” he added.

Beyond improving market liquidity, the analyst emphasized the importance of issuing longer-dated instruments to strengthen government’s debt structure.

“It is also going to help government issue long-dated instruments, and so the maturity profile of government debt will be elongated. And that is good news for the government too,” he said.