Gov’t Surpasses T-Bill Target for Second Week Attracting Strong Demand for Short-Term Debt
The Government of Ghana successfully raised GHS 4.193 billion in its T-bill auction on October 18, 2024, surpassing the programmed target of GHS 4.035 billion by GHS 158 million.
This marks the second consecutive week of exceeding auction targets, following last week’s oversubscription of GHS 4.56 billion by GHS 47 million.
The recent success follows three weeks of undersubscription, signaling renewed investor confidence driven by slight increases in yields across all three tenors.
The 91-day bill attracted the majority of bids, garnering GHS 3.52 billion, while the 182-day bill raised GHS 545 million, and the 364-day bill secured GHS 128 million.
Yields on the tenors also trended upward, with the 91-day bill closing at 25.94%, up by 0.33%. The 182-day bill rose to 27.03% after a 0.13% increase, and the 364-day bill ended at 28.73%, reflecting a 0.15% rise.
Looking ahead, the government plans to raise GHS 3.98 billion in its next T-bill auction, maintaining focus on the 91-day, 182-day, and 364-day maturities, as it continues to address short-term funding needs and navigate evolving market conditions.
