Ghs 1.16 billion to be raised in fresh debt
Some Ghs 1,161 million in fresh debt is anticipated to be raised by government on Friday, August 13, 2021.
The aforementioned amount is expected to be raised through the auction of short-term Government of Ghana (GoG) securities being the 91, 182 and 364 days treasury bills.
The upcoming auction of the 91, 182 and 364 days treasury bills follows the successful auction of a previous 91, 182 and 364 days T-bills on August 6, which saw government exceed its target for the auction by 16.8 percentage points.
Government, in the said auction realised its target of Ghs 1,101 million by Ghs 185 million more accepting bids totalling Ghs 1,286 million.
Read: Airlines choking on high repair, fuel costs — Report
Prior to that auction, government had also auctioned a 2-year unsecured bond and 91 and 182 days treasury bills which were also oversubscribed by investors.
Government in the auction of the 91, 182 and 364 days treasury bills in Tender 1759 GoG securities on August 13, is expected to once again exceed its programmed target of Ghs 1,161 million due to the ever-increasing appetite for government securities by institutional investors particularly banks.
The short-term debt securities are anticipated to be auctioned at discount rates of 12.1 percent, 12.4 percent and 13.7 percent for the 91, 182 and 364 days t-bills respectively.
Proceeds from the auction are expected to be used by government to meet its short-term finance needs.
Examine details of auction results below:
Auctresults-1758 by Fuaad Dodoo on Scribd
