Gov’t beats GHS 2.2bn auction target; rakes in GHS 2.5bn
Government witnessed strong demand for its short-term debt instruments, with the recent issuance of the 91-day, 182-day, and 364-day Treasury Bills being oversubscribed by GHS 270 million.
The Finance Ministry raised a total of GHS 2,508 million from primary dealers, exceeding its target of GHS 2,238 million.
The 91-day Treasury Bill received bids worth GHS 1,740 million with the government accepting GHS 1,723 million bids tendered, the 182-day Treasury Bill also received bids worth GHS 537 million with the government accepting all bids tendered for the debt security.
The 364-day Treasury Bill received bids worth GHS 306 million with the government accepting bids to the tune of GHS 248 million tendered.
The Finance Ministry collected GHS 2,508 million in bids from primary dealers, with the highest interest rate of 33.42% for the 364-day Treasury Bill, 31.67% for the 182-day Treasury Bill, and 29.81% for the 91-day Treasury Bill.
On average, the interest cost to the Government for the GHS 2,508 million funds raised from the T-Bill auction last Friday, is 31.63%.
Come this Friday, November 3, 2023, the government is planning another issuance of the 91-day, 182-day and 364-day Treasury Bills seeking to secure GHS 2,152 million in fresh funding to meet its short-term financing needs.
low cides and high dollar rate in Ghana.