Finance Ministry outstrips Ghs 1 billion debt target by Ghs 855 million
Government, through the Finance Ministry raised some Ghs 855 million more than the targeted Ghs 1 billion in the issuance of 91, 182 and 364 day treasury bills.
The auction of the 91, 182 and 364 days T-bills held on Friday, July 23, saw government rake in a total of Ghs 1,855 million as it accepted all bids tendered in by banks, pension funds and insurance firms.
The oversubscription of the short-term debt instrument is indicative of the ever-increasing appetite of banks, insurance companies and pension funds for government securities.
Bids tendered in for the 91 and 182 day T-bills issued at a discount rate of 12.1 percent and 12.4 percent were Ghs 827 million and Ghs 184 million respectively.
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With regards to the 364 day T-bills, total bids tendered in amounted to Ghs 844 million. The 364 day T-bills was issued at a discount rate of 13.7 percent.
Meanwhile, government, come this Friday, July 29, 2021, will once again be looking to raise some Ghs 630 million on the domestic debt market with the issuance of 91 and 182 day T-bills.
With an ever-increasing appetite for government securities which are less risky and easing liquidity on the interbank market, government is expected to once again exceed its target in the issuance of the 91 and 182 on Friday.
Details of auction results:
BOG Notice No 53 FMD T Bills 23rd July 2021 Auctresults 1756 by Fuaad Dodoo on Scribd
