Treasury misses GHS 3.47bn T-Bills target by GHS 369m
The Treasury missed its target of mobilizing some GHS 3.47bn on the domestic debt market via the issuance of the 91, 182, and 364-day T-Bills.
This is the second consecutive week in which the Treasury has missed its target in the issuance of the short-term debt instruments.
In the previous week, the 91, 182, and 364-day T-Bills were undersubscribed by some GHS 32m against a target of GHS 3.37bn with the Government mobilizing a total of GHS 3.34bn from the auction.
Bids tendered and accepted for the short-term debt instruments amounted to GHS 3.10bn indicating a shortfall of GHS 369m.
Bids tendered and accepted for the 91-day, 182-day, and 364-day Bills were GHS 1.98bn; GHS 878m, and GHS 248m respectively.
Yields on the 91-day, 182-day, and 364-day bills per the auction results released by the Central Bank were 25.54%; 27.64%, and 28.24% respectively.
Yields on the short-term debt instruments for last week indicate a marginal decline of 0.10%; 0.25% and 0.25% on a week-on-week basis when compared to the previous week’s yields of 25.64% for the 91-day Bill, 27.89% for the 182-day Bill and 28.49% for the 364-day Bill.
Coming this Friday, May 3, 2024, the Government through the Treasury will once again be looking to raise funds via the issuance of its 91, 182, and 364-day Bills.
The Government is reportedly targeting to raise some GHS 2.96bn from the domestic debt market.
