"Treasury Bills overfunded by GHS 462 million at average interest cost of 29.24%"

" Treasury Bills overfunded by GHS 462 million at average interest cost of 29.24% \r\n\r\nGovernment saw strong demand for its short-term debt instruments, with the recent issuance of 91-day, 182-day, and 364-day Treasury Bills oversubscribed by GHS 462 million.\r\n\r\nThe Finance Ministry raised a total of GHS 3,526 million from primary dealers, exceeding its target of GHS 3,064 million.\r\n\r\nThe 91-day Treasury Bill received bids worth GHS 2,639 million with the government accepting all bids tendered, the 182-day Treasury Bill also received bids worth GHS 650 million with the government once again accepting all bids tendered for the debt security.\r\n\r\nThe 364-day Treasury Bill received bids worth GHS 237 million with the government accepting all the bids tendered.\r\n\r\nThe Finance Ministry collected GHS 3,526 million in bids from primary dealers, with the highest interest rate of 31.65% for the 364-day Treasury Bill, 28.71% for the 182-day Treasury Bill and 27.36% for the 91-day Treasury Bill.\r\n\r\nOn average, the interest cost to the Government for the GHS 3,526 million funds raised from the T-Bill auction last Friday, is 29.24%.\r\n\r\nCome this Friday, the government is planning another issuance of 91-day, 182-day and 364-day Treasury Bills on September 8, 2023, seeking to secure GHS 2,601 million in fresh funding to meet its short-term financing needs.\r\n\r\n Finance Ministry plans GHS 38.9bn debt issuance in T- Bills from July to September \r\n\r\nThe Finance Ministry has revealed plans to issue a gross amount of GHS 38.9bn in debt through T-Bills for the period from July to September 2023.\r\n\r\nThis is per Government\u2019s Issuance Calendar for July to September published by the Finance Ministry on August 9, 2023.\r\n\r\nThe issuance of the GHS 38.9bn debt will be done solely through T-Bills due to the ongoing domestic debt programme.\r\n\r\n\u201cIn reference to the on-going Domestic Debt Exchange Programme (DDEP), Government\u2019s financing from the domestic market will be the issuance of only treasury bills. In this regard, Government plans to issue a gross amount of\u00a0 GH\u00a238,959.63 million\u00a0 for the period, July to September 2023,\u201d noted the Finance Ministry.\r\n\r\n\u201cGovernment\u00a0expects that the\u00a0 July\u00a0 to\u00a0 September\u00a0 2023 Calendar meets the requirements of market\u00a0participants,\u201d the Ministry added."

"Treasury Bills overfunded by GHS 462 million at average interest cost of 29.24%"

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