Government, will this week be seeking to raise some Ghs 1.7 billion in domestic debt to finance its short-term needs.
The mobilisation of aforementioned amount will be done through the auction of government’s 91, 182 and 364 days Treasury Bills.
Government, in the auction will be expectant of mobilising its set target of Ghs 1.7 billion from primary dealers given its inability to meet a much lesser target of Ghs 791 million in the auction of the 91 and 182 days T-bills for last week, May 21, 2021.
Government, in its 91 and 182 days T-Bills auction on May 21, failed to meet its target of Ghs 791 million.
The auction results report released by the Bank of Ghana (BoG) reveal that bids tendered in for the 91 days T-Bills, amounted to Ghs 476.45 million whereas bids tendered in for the 182 days amounted to Ghs 152.2 million with government accepting all bids tendered in.
Cumulatively, government was able to mobilise some Ghs 628 million from the auction, falling behind its target of Ghs 791 million by Ghs 162.43 million.
Government for sometime now has had difficulty in meeting its targets for its T-Bills auctions mainly due to liquidity tightening on the interbank market.
This has affected government’s ability to raise adequate monies to finance its short-term needs.
