Government fails to raise Ghs 1.08 billion debt target
Government on Friday, October 22, 2021, failed to raise its target of Ghs 1,083 million in the auction of the 91 and 182-day treasury bills.
Per the auction results report released by the Bank of Ghana (BoG), bids tendered in by primary dealers for the 91 days T-Bills, amounted to Ghs 791 million with government accepting all bids tendered in.
Bids for the 182 days T-Bills also amounted to Ghs 202 million with government once again accepting all bids.
Bids tendered in for both the 91 and 182 days both fell short of their respective targets.
Cumulatively, government was able to mobilise some Ghs 993 million from the auction, falling behind its target of Ghs 1,083 million by Ghs 90 million.
Must Read: Ghana’s import cover to decline from 5.2 months to 3.0 months in 2022 – IMF projects
The 91 and 182 days T-bills were auctioned at discount rates of 12.1 and 12.4 percent respectively.
In the previous week – October 15, 2021 – government was able to meet its target of raising Ghs 1 billion from the auction of the 91, 182 and 364 T-Bills as well as some Ghs 969 million from the auction of a 3-year cedi denominated bond.
Government, come this Friday, October 29, 2021, will once again look at raising an additional debt of Ghs 560 million in the issuance of 91, 182 and 364 days T-bills.
Peruse details of auction results below:
BOG Notice No 75 FMD T Bills 22nd October 2021 Auctresults 1769 by Fuaad Dodoo on Scribd
