Government fails to meet auction target by Ghs 482 million
Government on Friday, October 8, 2021, failed to meet a target of Ghs 1,475 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 827 million with government accepting all bids tendered in.
Bids for the 182 days T-Bills also amounted to Ghs 166 million with government once again accepting all bids.
Bids tendered in for both the 91 and 182 days both fell short of their targets.
Cumulatively, government was able to mobilise some Ghs 993 million from the auction, falling behind its target of Ghs 1,475 million by Ghs 482 million.
In the previous week – October 1, 2021 – government was also unable to meet its target of raising some Ghs 972 million from the auction of its 91, 182 and 364 T-Bills.
Government was only able to raise some Ghs 807 million from the auction of the short-term debt instruments representing a 20.4 percentage points shortfall (Ghs 165 million) in mobilized funds.
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.
Meanwhile, government in the upcoming auction of its 91,182 and 364 days treasury bills on October 16, is looking to raise some Ghs 969 million from the domestic debt market.
Read details of auction results:
Auctresults-1767 by Fuaad Dodoo on Scribd
