The government accrued ¢10.84 billion out of total bids worth ¢12.03 billion in the money market during the month of December.
This was due to the improved demand and tight pricing competition at the auctions.
Also, the exemption of Treasury bills from the Domestic Debt Exchange spurred investor demand.
Due to the improved demand and tight pricing competition at the auctions, the yields on the 91-day and 182-day tenors fell marginally, a situation which reduced the government cost of borrowing slightly within that period.
Analysts expect T-bills demand to continue to be high, while the secondary market remains quiet as investors seek clarity and decide on participating in the Domestic Debt Exchange programme.
The government extended the deadline for participating in the Domestic Debt Exchange to January 16, 2023.
The government also agreed to pay a cash tender fee of 2% on the total principal of bonds maturing in 2023 and honour all unpaid and accrued interest until the programme is successful.
The amended terms in the Domestic Debt Exchange included individual investors as eligible participants and a minimum investor participation target of 80% of the total outstanding principal.
Latest Stories
-
Fatawu Issahaku gets assist as Leicester City beat Preston to win Championship title
17 mins -
Child’s right advocate criticises state’s handling of ‘victim’ in alleged child marriage case
18 mins -
NPP has created 2.1m jobs in seven years – Bawumia
31 mins -
Akosombo Dam spillage: We’re considering a class action suit against government – Ablakwa
35 mins -
Government offers teacher unions about 70% increment in continuous professional development allowance
54 mins -
Everyone must show interest in depleting pension funds – Pensions Expert
1 hour -
African Business Heroes: African SMEs ready to compete for a share of $1.5m grant
1 hour -
My government will partner with faith-based groups in development – Bawumia
1 hour -
Joy Prime’s Prime Morning to host show at sea in May Day celebration with Ghana Navy
2 hours -
Why increase contribution rate when you can’t manage what is given you? – NAGRAT asks SSNIT
2 hours -
There are greener pastures in Ghana – Prof Owusu-Dabo
4 hours -
Myjoyonline Interview with Abubakar Tahiru: Guinness World Record Holder for ‘Most Trees Hugged In An Hour’
4 hours -
JoyNews’ Clinton Yeboah honoured at 2023 Int’l Sports Media Awards in Spain
4 hours -
14 PWDs selected for maiden Africa Health Collaborative Medicine Counter Assistant training
5 hours -
Manchester United open to offers for nearly all of squad
5 hours