"Government to borrow Ghs 1.2 billion this Friday"

" \n Government, come this Friday, July 16, 2021, will be raising some Ghs 1,281 million in the issuance of 91 and 182 day treasury bills. \n \n\n \n This follows an amount of some Ghs 2.2 billion already borrowed by government from the domestic debt market in the space of one week through the issuance of 91, 182 and 364 days treasury bills. \n \n\n \n Hence, the Ghs 1,281 million to be raised this Friday will be an additional debt taken on by government. \n \n\n \n Data provided by the Central Bank in respect of the auctioning of government\u2019s 91 and 182 days treasury bills indicate that, bids tendered in by banks on July 2, 2021, totaled Ghs 735 million falling below government\u2019s target of Ghs 1,178 million. \n \n\n \n Government, on the following week, July 9, 2021, accepted all bids tendered in for the 91, 182 and 364 days treasury bills. \n \n\n \n The realised amount was Ghs 1,526 million above government\u2019s target of Ghs 1,305 million. \n \n\n \n A total of Ghs 1,276 million, Ghs 124 million and Ghs 125 million in bids were tendered for the 91, 182 and 364 day T-bills respectively. \n \n\n \n The Ghs 1,281 million amount to be raised by government will be used to cater for its short-term financing needs. \n \n\n \n Government\u2019s target to raise the Ghs 1,281 million on the debt market through the issuance of 91 and 182 days T-bills is expected to be issued at a discounted rate of 12.4 percent. \n \n\n \n Issuance of the 91,182 and 364 day T-bills forms part of plans by government to borrow some Ghs 21.9 billion from the domestic market from June to August this year. \n \n\n \n Borrowings made by government within the specified period will largely be made through the weekly and bi-weekly issuance of 91, 182 and 364 days T-bills. \n \n\n \n In addition to the T-bills issuance will be the issuance of 2-year and up to 10-year bonds through the book-building method. \n \n\n \n According to the Finance Ministry, Ghs 19,864.43 million of the gross amount of Ghs 21,960.00 million to be borrowed will be used to roll over maturities, with the remaining Ghs 2,095.57 million used to meet government\u2019s short-term financing requirements . \n \n\n \n \n "

"Government to borrow Ghs 1.2 billion this Friday"

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