Government Misses T-Bill Target as Auction by 37.9%; Raises GHS 3.46bn
The Government of Ghana raised GHS 3.46 billion in its latest Treasury bill sale, falling short of its GHS 5.58 billion target by GHS 2.11 billion, according to data from the Bank of Ghana.
The undersubscription contrasts with the previous week’s oversubscribed auction, pointing to a slowdown in investor appetite for short-term government securities.
Total bids submitted amounted to GHS 3.48 billion, with nearly all accepted.
Yields inched higher across maturities as the 91-day bill cleared at 10.50 percent, up from 10.45 percent, while the 182-day and 364-day papers edged to 12.39 percent and 12.89 percent respectively.
The government will return to the market on October 2, seeking to raise GHS 3.71 billion to refinance maturing obligations and ease financing pressures.
