Government has exceeded its target of Ghs 1 billion from the sale of a 2-year bond issued on Thursday, October 1.
Trading results indicate that Government was able to raise Ghs 530 million more than its anticipated target of a billion cedis.
A majority of the Ghs 1.53 billion realized from the 2-year bond auction according to sources within government will be used in settling maturing debts.
The remainder of the monies will be used in financing other government expenditures.
The 2-year bond comes with an interest rate of 18.5 per cent.
The successful auctioning of the bond is good news to Government as it some few weeks ago missed its targets of raising GHC 1 billion from the sale of its 91-day and 182-day treasury bills.
As well as also missing its GHC 1.5 billion from the 3-year-cedi denominated bond auctioned on September 17.
