T-Bills Auction: Finance Ministry to raise Ghs 1.48 billion for government this Friday
The Finance Ministry is seeking to raise for government, some Ghs 1,487 million on the domestic debt market in the issuance of 91, 182 and 364 days treasury bills.
The Ministry is expected to raise the aforementioned amount this Friday, November 5, 2021.
Already the Ministry, on behalf of government in an auction last week – Friday, October 29, 2021 – borrowed some Ghs 560 million in the issuance of 91, 182 and 364 days treasury bills.
In the week prior to the Ghs 560 million raised, government also raised some Ghs 993 million in the issuance of the short-term dated debt instruments to meet government’s short-term financing needs.
The Ghs 1,487 million to be raised on November 5, 2021, will be an additional debt to be taken on by government and will also be used to finance government’s short-term needs.
The Ministry’s target to raise Ghs 1,487 million on the debt market through the issuance of 91, 182 and 364 days T-bills is expected to be issued at discount rates between 12.1 and 14.1 percent.
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With increased borrowings on the domestic debt market, the country’s public debt stock is expected to rise with domestic debt as a ratio of government’s total debt stock also expected to increase.
Presently, the country’s debt stock stands at Ghs 336 billion representing 76.1 percent of Gross Domestic Product (GDP) with domestic debt accounting for Ghs 168 billion of the total debt stock.
Read below details of the results of last Friday’s – October 29, 2021 – T-bills auction:
Auctresults-1770 by Fuaad Dodoo on Scribd
