Finance Ministry beats T-Bills auction target by GHS 273m
Government, through the Finance Ministry, beat its T-Bills auction target of GHS 823m last Friday, August 19, 2022.
The Finance Ministry, in the issuance of the 91-day and 182-day treasury bills mobilised a total of GHS 1,093 million in bids tendered by primary dealers.
A total of GHS 911m bids was tendered in for the 91-day with government accepting all bids tendered for the short term security.
For the 182-day bill, a total of GHS 185m was tendered with government was once again accepting all the bids tendered for the debt security.
The 91-day and 182-day treasury bills were auctioned at interest rates of 27% and 28% respectively.
Returns on treasury bills continue to be negative given the country’s prevailing inflation rate of 31.7%.
The Finance Ministry, in the upcoming issuance of the 91-day, 182-day and 364-day treasury bills on August 26, 2022, will be seeking to secure some GHS 1,167m in fresh funding to meet its short term financing needs.
The additional GHS 1,167m debt is expected to further entrench government’s domestic debt-to-GDP ratio.
Read details of T-Bills auction results:
Auctresults-1812 by Fuaad Dodoo on Scribd
