T-Bills oversubscribed by nearly GHS 1bn as Gov’t rakes in GHS 3.5bn
The 91, 182, and 364-day treasury bills auctioned by the Bank of Ghana (BoG) on behalf of the government, saw some GHS 3,568 million mobilised as credit from investors to the government.
The secured GHS 3,568 million was against a programmed auction target of GHS 2,594 million.
The government, in accepting the GHS 3,568 million bids tendered, exceeded its target by GHS 974 million – nearly GHS 1 billion.
A total of GHS 2,154m and GHS 746m bids were accepted by the Government for the 91-day and 182-day short-term debt securities.
For the 364-day bill, a total of GHS 668m was accepted by the government for the debt security.
The oversubscription of the short-term debt securities was due to high-interest rates and near-positive returns on the debt instruments for investors.
Returns on the short-term debt instruments have reverted to a positive trajectory given the dip in headline inflation from 35.2% in October 2023 to 26.4% in November 2023.
