16/02/2022
Ghana’s yield curve is kind of like “zigzag” line. You have to be interpolating very distant bond maturities whenever you need a treasury bond yield that approximately matches your investment horizon. In fact, how do you construct a “nice” spot curve using the available treasury securities in Ghana? It’s almost a guess work; the least to say. This is the reality that we Analysts in the industry face on daily basis. We need a better methodology to constructing the discount factor curve for security pricing.