Gov’t to roll over GHS 3.51bn maturities in upcoming T-Bill auction
Government, in the upcoming T-bills auction scheduled for Friday, September 15, 2023, is setting its sights on a notable gross issuance of GH¢3.76 billion.
This figure represents a substantial week-on-week increase of 44.5%, as Government seeks to roll over upcoming maturities valued at GH¢3.51 billion.
However, amid the amplified target size, concerns have arisen regarding potential investor demand. It is speculated that the market response may fall short of expectations, given the substantial issuance volume.
As a result, GCB Capital Research suggests that the yield for the 91-day T-bills could potentially escalate to reach the 28% mark.
This development underscores the delicate balance that the Government must navigate in its debt management strategy, particularly in a market environment marked by varying economic forces and investor sentiment.
The forthcoming T-bills auction will be closely monitored as market participants assess the outcome and its implications for the broader financial landscape.
