T-Bills Oversubscribed: Gov’t Accepts GHS 4.36bn, Sets Sights on GHS 8.28bn This Week
Government secured GHS 4.36 billion in its latest Treasury bills auction, surpassing the GHS 3.78 billion target by GHS 575 million.
The oversubscription marks a turnaround in investor sentiment toward short-term government debt after a series of undersubscribed auctions in recent weeks.
Per auction results released by the Bank of Ghana, total bids amounted to GHS 4.38 billion, with government accepting GHS 4.36 billion.
Yields on the short-term instruments showed mixed movements.
The 91-day bill cleared at 10.42 percent, slightly up from 10.32 percent the previous week, while the 182-day instrument edged higher to 12.41 percent from 12.37 percent.
The 364-day bill, however, declined marginally to 12.97 percent from 12.99 percent.
The next issuance, slated for September 12, targets GHS 8.28 billion, as government relies heavily on the T-bill market to refinance maturing debts and ease liquidity constraints.
