Bids for government short-term debt falls by Ghs 268 million
Bids tendered in by institutional investors such as insurance firms, banks and pension funds for the 91, 182 and 364 days treasury bills auctioned on Friday, September 17, 2021, fell by Ghs 268 million.
Government in the auction of its short-term debt instruments, failed to achieve its target of raising some Ghs 1,474 million, being able to only rake in some Ghs 1,206 million at the end of the auction.
In percentage terms, government failed to realize its target by some 18.18 percent.
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 878 million with government accepting all bids tendered in.
Bids for the 182 and 364 days T-Bills also amounted to Ghs 137 million and Ghs 192 million respectively with government once again accepting all bids made.
Bids tendered in for the 91, 182 and 364 days T-bills were insufficient to meet their respective targets.
Government in the previous auction on September 10, also failed to meet its auction target of Ghs 1,380 million in the issuance of the 91 and 182 days T-bills.
Government in the said auction was only able to raise Ghs 1,258 million falling behind its target by some Ghs 122 million.
Government’s failure to meet its target for the 91, 182 and 364 day treasury bills last week and the 91 and 182 days treasury bills in the previous week can be attributed to the tightening of liquidity on the interbank market.
Meanwhile, government is once again expected to go to the domestic market for another round of issuance for its 91 and 182 days short term debt instruments on Friday, September 24.
Government has set for itself a target of Ghs 1,290 million.
