Finance Ministry misses T-bills auction target by 26.5%
Government through the Finance Ministry on Friday, August 27, 2021, failed to meet a target of Ghs 1,643 million in the auction of its 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 1,052 million with government accepting all bids tendered in.
Bids for the 182 days T-Bills also amounted to Ghs 156 million with government once again accepting all bids.
Bids tendered in for both the 91 and 182 days were both insufficient to meet their respective targets.
Cumulatively, government was able to mobilise some Ghs 1,207 million from the auction, falling behind its target of Ghs 1,178 million by Ghs 436 million.
In the previous auction, government exceeded its target of raising some Ghs 1.16 billion by accepting an additional Ghs 154 million bids made by investors for the 91, 182 and 364 days treasury bills.
Read: RCBs expected to comply with Ghs 1 million minimum requirement by end-2021 – Dr Addison says
Government for the past several weeks has been exceeding its targets for the auction of the short-term securities. This, therefore, marks the first time government has failed to achieve its auction target in over a month now.
Government’s failure to meet its target for the 91 and 182-day treasury bills can be attributed to a tightening of liquidity on the interbank market.
Find details of auction results below:
Auctresults-1761 by Fuaad Dodoo on Scribd
