Government misses T-bills auction target of Ghs 1.39 billion
Government on Friday, November 26, 2021, failed to meet a target of Ghs 1,390 million in the auction of its 91,182 and 364-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 890 million with government accepting all bids tendered in.
Bids for the 182 and 364 days T-Bills also amounted to Ghs 109 million and Ghs 190 million respectively with government once again accepting all bids made for the short-term debt instruments.
Bids tendered in for both the 91,182 and 364 days were insufficient to meet their respective targets.
Cumulatively, government was able to mobilise some Ghs 1,189 million from the auction, falling behind its target of Ghs 1,390 million by Ghs 201 million.
In the previous auction – November 19 – government also failed to meet its target of raising some Ghs 708 million as it was able to mobilise some Ghs 655.73 million from the issuance of the 91 days and 182 days treasury bills.
In the previous auction, bids tendered in for the 91-day and 182-day bills amounted to Ghs 534 million and Ghs 129 million respectively.
Government’s failure to meet its target for the 91 and 182-day treasury bills for the previous week as well as for the 91, 182 and 364 days T-bills can be attributed to a tightening of liquidity on the interbank market.
Meanwhile, government in its next auction – December 3 – is aiming at raising some GH¢1,284 million from the issuance of the 91 and 182-day bills.
Find details of auction results below:
BOG Notice No 83 FMD T Bills 26th November 2021 Auctresults 1774 by Fuaad Dodoo on Scribd
